IndianOil Financial Performance FY 2021-22 (Standalone)

Source: www.gulfoilandgas.com 5/17/2022, Location: Asia

IndianOil reported Revenue from Operations of ?7,28,460 crores for FY 2021-22 as compared to ?5,14,890 crores in previous financial year. The Net Profit for current financial year is higher at ?24,184 crores as compared to ?21,836 crores during previous financial year mainly on account of higher refining margins and higher inventory gain during current period.

The Revenue from Operations is ?2,06,461 crores in Q4 2021-22 as compared to ?1,63,733 crores in the corresponding quarter of previous financial year. The Net Profit for the fourth quarter of FY 2021-22 is ?6,022 crores as compared to ?8,781 crores in the corresponding quarter of previous financial year which is due to lower petrochemical margins and exchange losses incurred during current quarter.

Reflecting on the stellar operational performance of the Corporation, Chairman, IndianOil, Mr S M Vaidya said "This year, IndianOil has notched up the highest ever Revenue from Operations and as well as highest ever Net Profit. This stellar achievement reflects our resolve to set new benchmarks of excellence even in the face of stiff challenges. This also validates our sustained focus on fuelling the socio-economic aspirations of new India".

The Board of Directors in this meeting recommended issue of bonus equity shares in the ratio of one equity share of ?10 each for every two equity shares of ?10 each held, subject to approval by the members of the Company. The bonus shares, upon approval, will also be eligible for the final dividend. The Board of Directors in this meeting also recommended the final dividend of ?3.60 per equity share having face value of ?10/- (pre-bonus), which translates into final dividend of ?2.40 per equity share having face value of ?10/- (post-bonus) for FY 2021-22, subject to approval by the members of the Company. This is in addition to the interim dividend of ?9.00 per equity share (pre-bonus) paid during the year by the Company.

IndianOil Chairman, Mr S M Vaidya, elaborated, “IndianOil sold 86.407 million tonnes of products, including exports, during FY 2021-22. Our refining throughput for FY 2021-22 was 67.665 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 83.248 million tonnes during the year. The gross refining margin (GRM) for FY 2021-22 was US$ 11.25 per bbl as compared to US$ 5.64 per bbl in previous financial year. For the fourth quarter of FY 2021-22, IndianOil's product sales volumes, including exports, was 23.310 million tonnes. The refining throughput was 18.265 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 22.061 million tonnes during the quarter.”


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