Indian Oil Corporation (IOCL), the state-owned oil marketing company (OMC), announced a record date for its final dividend on Thursday, May 30, as per a stock market disclosure.
This announcement follows the release of IOCL’s quarterly results (Q4FY24) for the financial year 2024, a month earlier. The company has set the record date to determine the eligibility of recipients for the dividend.
According to IOCL’s regulatory filing, “Friday, July 12, 2024, is set as the record date to determine the eligibility of members to receive the final dividend for the year ending March 31, 2024.”
IOCL had declared a dividend of Rs 7 per equity share along with its Q4 FY24 results.
Analysis of IOCL Q4 earnings
IOCL reported a 49.96% year-on-year decrease in consolidated net profit, amounting to Rs 5,148.87 crore for the quarter ending on March 31 in the financial year 2023-24 (Q4FY24). This is a significant decline from the net profit of Rs 10,289.82 crore reported in the same period last year (Q4FY23).
Sequentially, the net profit dropped by 42.97% from Rs 9,029.56 crore in the previous quarter.
On Thursday, May 30, IOCL shares closed at Rs 161.95 each, marking a 1.88% decrease on the BSE.
