The firm informed that its director (finance), Anuj Jain has been designated as the CFO of the company, with effect from 9 October 2023.

Anuj Jain is a commerce graduate and a chartered accountant from the Institute of Chartered Accountants of India (ICAI). He has also completed a Masters in Business Finance from the ICAI. He had joined Indian Oil in 1996 and has over 27 years of rich and varied experience in the field of finance, taxation and commercial aspects of the oil & gas industry.

Further, the board of directors also approved the investment plan of JVC for setting up of renewable energy power plants and approved the equity contribution of upto Rs 1,660.15 crore towards Indian Oil's share of 50% in the equity share capital of the JVC.

Indian Oil Corporation is an Indian government owned oil and gas explorer and producer. As of 30 June 2023, the Government of India held 51.50% stake in the company.

Indian Oil Corporation (IOCL) reported a standalone net profit of Rs 13,750.44 crore in Q1 FY24 as against a net loss of Rs 1,992.53 crore recorded in Q1 FY23. Net revenue (excluding excise duty) declined 11.92% YoY to Rs 1,97,526.57 ‬crore in the quarter ended 30 June 2023.

The scrip ended 0.63% higher at Rs 90.87 on the BSE.

Powered by Capital Market - Live News