In a bid to part finance its Rs 11,277 crore capital investment in FY14, State-owned Indian Oil Corporation (IOC) is planning to mop up $750 million through external commercial borrowings (ECBs). Besides ECB, the company will also be raising Rs 1,000 to 2,000 crore from Indian bond market. The rest of the capex will be funded from internal accruals.
On consolidated basis, the company’s net profit after taxes, minority interest stood at Rs 4449.01 crore for the FY13 as compared to Rs 4225.98 crore in FY12, up by 5.28%. Group’s total income increased by 12.90% to Rs 465291.30 crore for the year under review from Rs 412111.16 crore for the previous year.