IOC FY05 net dips to Rs 4890 cr

Indian Oil Corporation, the country's largest refiner, on Monday reported a sharp 30 per cent drop in net profit for 2004-05 to Rs 4890 crore (Rs 48.9 billion) compared to Rs 7,005 crore (Rs 70.05 billion) in the previous fiscal.

The turnover, however, increased 15.7 per cent to Rs 150,677 crore (Rs 1506.77 billion) during the previous year as against Rs 130,203 crore (Rs 1302.03 billion) in 2003-04,

Sarthak Behuria, IOC chairman said.

The oil major also declared a dividend of 100 per cent i.e. Rs 10 per share for 2004-05.