Indian Oil Q4: Net profit jumps 152%, revenue marginally up; board recommends final dividend of 30%

The oil firm’s revenue from operations, however, grew marginally to ₹2.17 lakh crore from ₹2.16 lakh crore quarter-on-quarter (QoQ).

Indian Oil’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) for the quarter jumped 91% QoQ at ₹13,572 crore as against ₹7,117 crore in Q3 FY25. Its margin firmed up 7% as compared to 3.7% QoQ.

Following the earnings announcement, shares of Indian Oil were trading at ₹137.77 apiece on the National Stock Exchange, rising 1.47%.

Apart from approving its fourth quarter earnings, the IOC board of directors has also recommended a final dividend for FY25.

“The board has recommended a final dividend of 30% for the year 2024-25, i.e., ₹3.00 per equity share of face value of ₹10/- each on the paid-up share capital, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the company,” it said.

The dividend would be paid within 30 days from the date of declaration at the AGM. The record date for payment of the final dividend would be fixed and intimated in due course.

Indian Oil’s average gross refining margin (GRM) for the financial year 2024-2025 was $4.80 per barrel as compared to $12.05 per barrel in FY24. “The core GRM or the current price GRM for the year April - March 2025, after offsetting inventory loss/gain, comes to $4.53 per barrel,” it said.

The Board of Indian Oil has also approved a revision in the cost of its Barauni Refinery expansion project to ₹16,724 crore from ₹13,779 crore. The increase in project cost is mainly on account of the increase in the cost of plant & machinery.  

The company has also granted approval for additional equity investment of ₹1,086 crore in Terra Clean Ltd for setting up an additional 4.3 GW RE capacity over and above the already approved 1 GW RE capacity.