OREANDA-NEWS.The audited financial results of the Corporation were taken on record at the meeting of the Board of Directors here today. The income from operations for the financial year 2012-13 rose by 12% to Rs. 447096 crore from      Rs. 398477 crore in 2011-12. Indian Oil Corporation posted a profit of Rs. 5,005 crore for the financial year 2012-13 as compared to a profit of Rs. 3,955 crore in the last fiscal.

IndianOilRs.s income from operations went up by 10% to Rs. 128681 crore in Q4 F13 as compared to Rs. 117281 crores in the corresponding quarter of 2011-12. Profit for the last quarter of 2012-13 is at Rs. 14,513 crore as compared to Rs. 12,671 crore in the corresponding quarter of 2011-12, mainly due to higher compensation for under-recoveries in current quarter pertaining to earlier quarters.

The Board of Directors recommended a dividend of 62% (Rs. 6.20 per share).
Mr. RS Butola, Chairman, IndianOil, said, "IndianOil sold 76.237 million tonnes of products, including exports, during 2012-13. Our refining throughput for FY 2012-13 was 54.650 million tonnes and the throughput of the CorporationRs.s countrywide pipelines network was 75.495 million tonnes during the same period. The gross refining margins during the year 2012-13 were US\\$ 2.26 per bbl as compared to US\\$ 3.63 per bbl in 2011-12."