New Delhi, May 1 -- Public sector undertaking Indian Oil Corporation (IOC) reported a standalone net profit of Rs 4,838 crore, a decline of 52% for the quarter ending in March.

This marks a notable decrease from the Rs 10,059 crore profit reported during the same period last year.

Furthermore, the companys revenue from operations experienced a 3% downturn, totalling Rs 2.19 lakh crore for the fourth quarter, in contrast to Rs 2.26 lakh crore recorded in the previous years quarter.

The Board has proposed a final dividend of Rs 7 per share for the fiscal year 2023-24, equating to 70% per equity share with a face value of Rs 10 each.

This final dividend will be disbursed within 30 days from its declaration at the Annual General Meeting (...