ON A HIGH NOTE

iNDIAN OIL Corporation (IOC), the country's largest oil refiner and fuel retailer, wrapped up FY24 on a high note, reporting its best-ever financial performance despite global headwinds and volatile crude prices.

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IS. M. VAIDYA, Chairman, IOC (At the helm in FY24; retired on August 31, 2024)

Indian Oil retained its leadership in BW Real 500 FY24 rankings once again under Chairman S. M. Vaidya, who retired in August FY25

With robust margins, higher refining throughput, and a renewed thrust on energy transition, IOC is positioning itself as a future-ready energy major.

IOC Indian Oil Corporation

TOTAL ASSETS Rs 4,82,362 crore

TOTAL INCOME Rs 8,85,078 crore

OPERATING PROFIT Rs 57,287 crore

NET PROFIT Rs 43,161 crore

The Maharatna posted a whopping 77 per cent jump in consolidated net profit at Rs 39,618 crore in FY24, compared to Rs 22,500 crore in FY23. Revenue from operations stood at Rs 8,93,229 crore. What makes this feat even more remarkable is that it comes on the back of a strong operational pivot, tighter cost controls, and a smart realignment of supply chains.