IOC reports 35% fall in Q4 net profit

Indian Oil Corporation (IOC) has reported results for fourth quarter and year ended March 31, 2014. The company has posted a fall of 35.30% in its net profit at Rs 9389.85 crore for the quarter ended March 31, 2014 as compared to Rs 14512.81 crore for the same quarter in the previous year. However, total income from operations of the company rose by 5.75% at Rs 134867.42 crore for quarter under review as compared to Rs 127534.77 crore for the quarter ended March 31, 2013. For the year ended March 31, 2014, the company has posted a jump of 40.24% in its net profit at Rs 7019.09 crore as compared to Rs 5005.17 crore for the same period in the previous year. Total income from operations of company has increased by 5.84% at Rs 473210.09 crore for year under review as compared to Rs 447096.25 crore for the year ended March 31, 2013. Indian Oil Corporation has recommended dividend of Rs 8.70 per equity share (face value Rs 10 per equity share).