The PSU oil marketing company (OMC) announced its decision after a board meeting held today. Its shares jumped 2% to hit the day’s high of Rs 164.85 on the BSE around 2:30 pm.
IOC shares have delivered 15% returns in the past 12 months, outperforming the benchmarks Nifty and the BSE Sensex, whose returns in the same period stand at 5.7% and 4.6%, respectively.
The stock is currently trading above its 50-day and 200-day simple moving averages (SMAs) of Rs 161.4 and Rs 145, respectively, according to Trendlyne data.
The company reported a consolidated net profit of Rs 7,818 crore in the September-ended quarter against a loss of Rs 170 crore in the year-ago period. The total revenue reported by Indian Oil Corporation in the quarter under review stood at Rs 179,272 crore, up 2% from Rs 175,699 crore in Q2FY25.
According to Trendlyne, Indian Oil has declared 38 dividends since February 3, 2003. In the past 12 months, the company has declared an equity dividend amounting to Rs 3 per share. At the current share price of Rs 164, Indian Oil’s dividend yield is 1.83%.
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