Indian Oil Corp posts strong FY25 results, boosts renewable investments

Indian Oil Corporation (IOC) has announced its audited financial results for the quarter and year ended March 31, 2025, showcasing a strong financial performance. For the fiscal year, IOC reported a revenue from operations of INR8,45,512.61 crore (standalone) and INR8,59,362.73 crore (consolidated). The company's Board has recommended a final dividend of INR3.00 per equity share for FY25, subject to shareholder approval. Average Gross Refining Margin (GRM) for the year stood at USD4.80 per bbl. In strategic moves, the Board approved an additional equity investment of INR1,086 crore in its subsidiary, Terra Clean Limited, to further its renewable energy capacity by 4.3 GW, adding to the existing approved 1 GW project. Moreover, IOC approved a revision in the project cost of the Barauni Refinery in Bihar to INR16,724 crore. In a filing, IOC also shared an investor handout with additional information to aid shareholder understanding.