Indian Oil's consolidated net profit rises 2.95% yoy in Q2; GRM at $6.57 per barrel

Shares of Indian Oil Corporation (IOC) was up over 1.4% in the afternoon deal on Monday’s trade. The net profit of Indian Oil Corporation (IOC) was up 2.95% to Rs6203.74cr in the quarter ended September 2021 as against Rs6025.81cr during the previous quarter ended September 2020. Sales rose 63.02% to Rs133202.17cr in the quarter ended September 2021 as against Rs81708.88cr during the previous quarter ended September 2020.

Average Gross Refining Margin (GRM) for the period April - September 2021 is $6.57 per bbl (April - September 2020: $3.46 per bbl). The core GRM or the current price GRM for the period April- September 2021 after offsetting inventory loss/ gain comes to $3.47 per bbl, IOC said in the release.

Indian Oil Corporation Ltd is currently trading at Rs131.60 up by Rs3.55 or 2.77% from its previous closing of Rs128.05 on the BSE.

The board has declared an Interim Dividend of 50% i.e. Rs5/- per equity share of face value of Rs10/- each for the year 2021-2022. The Interim Dividend would be paid to eligible shareholders on or before 29th November 2021.