Indian Oil Corporation's Q4 net profit declined 52% to Rs 4,837 crore due to higher crude oil costs and reduced refining margins.

Indian Oil Corporation (IOC) reported a 52% decline in Q4 net profit to Rs 4,837 crore due to rising crude oil costs, reduced refining margins, and lower fuel prices. Despite these challenges, IOC's revenue remained relatively flat at Rs 2.23 lakh crore. The company's board declared a final dividend of Rs 7 per equity share, subject to shareholder approval.

April 30, 2024
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