Indian Oil Corporation has paid Rs 2,424 crore as a dividend tranche to the government, Tuhin Kanta Pandey, secretary at the Department of Investment and Public Asset Management (DIPAM), said on November 25.The DIPAM Secretary took to Twitter to make the announcement.
Government has received Rs 2424 crore from Indian Oil Corporation Ltd as dividend tranche. pic.twitter.com/Lq2tpuAN6z
— Secretary, DIPAM (@SecyDIPAM) November 25, 2021
The dividend windfall from its holdings in public sector undertakings (PSU)s has helped the government treasury recover from the massive hits it took from the two coronavirus pandemic waves.
So far during the current financial year 2021-22 (April-March), Rs 20,222.40 crore has been received as dividends from central public sector enterprises.
On November 25, Indian Oil shares ended 1.14 percent lower to settle at Rs 126.15 apiece on the National Stock Exchange.The state-owned diversified, integrated energy major accounts for nearly half of the country’s petroleum products’ market share. Indian Oil clocked sales of 81.027 million metric tonnes (MMT) in 2020-21.