News Hour- Indian Oil net profit up 224% at Rs 12,670 crore, beats estimates

NEW DELHI: Indian Oil Corporation on Monday announced a net profit of Rs 12,670.43 crore for the quarter ended March 31, 2012, a 224 percent YoY increase from Rs 3,905.16 crore in the year-ago period.

Analysts expected the company to post a net profit of Rs 9,400 crore during the quarter, up 140.70 percent YoY, according to ET Now estimates. 

Total income increased to Rs 1,30,305.35 crore in the fourth quarter from Rs 99,130.03 crore for the March 2011 quarter, the company said in a BSE filing. 

The group posted a net profit after tax & minority interest of Rs 4,225.98 crore for the year ended March 31, 2012, compared to Rs 7,830.72 crore for the year ended March 31, 2011. 

Total income increased to Rs 4,12,111.16 crore for the year ended March 31, 2012, from Rs 3,13,244.71 crore in the previous year. 

The IOC board recommended a dividend of Rs 5.00 per ordinary share for the financial year ended March 31, 2012. 

At 02:10 p.m., the company's shares were trading 0.6 percent higher at Rs 267. The stock has hit a high of Rs 271.10 and a low of Rs 265.10 in trade so far.
(Source- http://economictimes.indiatimes.com)