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IOCL posts Rs 1635 cr profit for Q3

New Delhi, 11 February, 2011

Indian Oil Corporation Ltd (IOCL) has registered a profit of Rs 1635 crore in the third quarter of the current financial year as compared Rs 697 crore for the same quarter of the previous year.

IOCL said the profit for the current quarter could be achieved mainly due to government compensation of Rs 4442 crore for the Q3.

The Corporation’s Gross Turnover for the same period rose by 16.7 per cent to Rs 82,179 crore from Rs 70,431 crore during the same period last year.

For the nine-month period, Indian Oil’s turnover went up by Rs 35,679 crore while the profit went down by Rs 1,124 crore. The profits for the period April-December 2010 were Rs 3540 crore as compared to Rs 4664 crore during the corresponding period of the previous financial year.

S V Narasimhan, Chairman, IOCL said, ''Indian Oil sold 18.422 million tonnes of products, including exports, during the third quarter of 2010-11. Our quarterly refining throughput was 13.319 million tonnes.''
 

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