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IndianOil Declares 45% Interim Dividend for 2004-05

New Delhi, Dec 22: Indian Oil Corporation Ltd. (IOC) Board, which met here today, declared an interim dividend of 45% (Rs.4.50 per share) amounting to Rs.526 crore for the current year (2004-05).

It may be recalled that the Corporation had paid a total dividend of 210% amounting to Rs.2,453 crore for the previous year (2003-04) on the total share capital of Rs. 1,168 crore.

For the first six months ended September 2004, the Corporation had registered a net profit of Rs. 2,712 crore. The Corporation sold 24.56 million tonnes of petroleum products, including exports, during the first half of 2004-05.The Gross Turnover moved up by 17%, to Rs. 70,696 crore from Rs. 60,510 crore for the same period in the previous year.

During the first half of 2004-05, the Corporation's refinery throughput was higher at 18.80 million tonnes as compared to 17.69 million tonnes during the previous year. The 7,730-km pipelines network also transported 22.35 million tonnes of crude oil and petroleum products during the first half of the current year as compared to 21.43 million tonnes registered the previous year.

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