Indian Oil gives Rs 2,424 crore to government as dividend tranche

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Indian Oil Corporation paid 2,424 crore rupees as a dividend tranche to the government

The state-owned oil marketing company Indian Oil Corporation on Thursday paid 2,424 crore rupees in terms of a tranche of dividends to the government.

Tuhin Kanta Pandey, secretary of the Department of Investment and Public Asset Management (DIPAM), announced via his official Twitter account.

So far in the current fiscal year, the government has received 20,222 crore rupees in terms of dividends from several public entities.

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Indian Oil Corporation is the nation’s largest petroleum retailer, accounting for nearly 50 percent of the country’s petroleum products market share. It had recorded sales of 81.027 million metric tons in 2020-2021.

Last month, the government received a final dividend of Rs 6,665 crore from Bharat Petroleum Corporation Limited (BPCL) linked to the privatization for 2020-2021.

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