Oil marketing company Indian Oil Corporation (IOC ) on Monday reported 25.4 per cent rise to Rs 8268.98 cr for the first quarter ended June as compared to Rs 6590.83 cr in the same quarter in the previous year. Total income of the company stood at Rs 1,07,200 cr, registering a fall of 5.75 per cent in June quarter as compared to 1,13,743 cr in the same quarter last year.
Average gross refining margins for the June quarter was $9.98 per barrel as against to $10.77 in June quarter of 2015.
The company also informed BSE that its Board of Directors has recommended issue of Bonus shares in the ratio of 1:1 i.e. 1 (One) equity bonus share of Rs 10/- each for every 1 (One) existing equity share of Rs 10/- each fully paid up subject to the approval of the shareholders.
Earnings per share rose to Rs 34.90 during the April-June quarter as compared to Rs 27.81 in the same quarter last year.
Shares of the company slumped over 1 per cent on Monday. The scrip was trading 0.26 per cent down at Rs 572.30. It has opened at Rs 576.15 and touched a high and low of Rs 582.90 and Rs 565.10, respectively. Later, the scrip settled 0.32 per cent down at Rs 571.95
IOC has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.