IndianOil reports highest ever profit of Rs.10,399 cr

Sarkaritel
By Sarkaritel May 27, 2016 16:37

IndianOil reports highest ever profit of Rs.10,399 cr


New Delhi, May 27, 2016: The audited financial results of Indian Oil Corporation (IndianOil) were approved at the meeting of the Board of Directors held here today.

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IndianOil posted a net profit of Rs. 10,399 crore for the financial year 2015-16 as compared to a profit of Rs. 5,273 crore in the last fiscal. The income from operations for the financial year 2015-16 was Rs. 3,50,603 crore as compared to Rs.4,37,524 crore in 2014-15 and despite better physicals, the decrease is purely because of fall in international prices in current period.

IndianOil’s income from operations was Rs. 80,450 crore in Q4 FY16 as compared to Rs. 93,830 crore in the corresponding quarter of 2014-15 mainly because of fall in international prices in current quarter. Profit for the last quarter of 2015- 16 is at Rs. 1,236 crore as compared to Rs. 6,285 crore in the corresponding quarter of 2014-15 mainly due to lower GRMs. The Board of Directors recommended a final dividend of 85% (Rs. 8.50 per share). This is in addition to Interim Dividend of 55% (Rs. 5.50 per share) paid during the year.

IndianOil Chairman, Mr. B Ashok, said, “IndianOil sold 80.722 million tonnes of products, including exports, during 2015-16. Our refining throughput for FY 2015-16 was 56.694 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 79.824 million tonnes during the same period. The gross refining margin (GRM) during the year 2015-16 was US$ 5.06 per bbl as compared to US$ 0.27 per bbl in 2014-15.”

For the last quarter of 2015-16, IndianOil’s product sales volumes, including exports, was 21.573 million tonnes. The refining throughput was 15.019 million tonnes in Q4 FY16 and the throughput of the Corporation’s countrywide pipelines network was 20.395 million tonnes during the same period. The gross refining margin (GRM) for the last quarter of 2015-16 was US$ 3.00 per bbl as compared to US$ 8.77 per bbl in the corresponding quarter of 2014-15.

Sarkaritel
By Sarkaritel May 27, 2016 16:37