IOC Q4 net up 15% on higher subsidy receipts

摘要

INDIAN Oil Corporation Ltd (IOC) reported 14.53 per cent higher net profit for January-March 2013 quarter at Rs 14,513 crore (Rs 12,671 crore). The increase in profit is because of higher subsidy payout by the government to cover losses incurred in selling fuel below market cost. The public sector refiner has recommended a dividend of 62 per cent, which converts to Rs 6.20 for each equity share of face value Rs 10.