IndianOil reports net profit of ₹4,549 crore for Q1 2017-18

Sarkaritel
By Sarkaritel August 3, 2017 18:49

IndianOil reports net profit of ₹4,549 crore for Q1 2017-18


New Delhi, August 3, 2017: IndianOil’s income from operations for the quarter ended 30th June, 2017 rises by 19.6% at ₹1,28,191 crore as compared to ₹1,07,197 crore in corresponding quarter of 2016-17. Net profit for the current quarter was ₹4,549 crore as compared to ₹8,269 crore in the corresponding quarter of 2016-17 which was mainly due to inventory losses incurred during the current quarter.

IndianOil Chairman, Mr. Sanjiv Singh, said, “IndianOil sold 22.508 million tonnes of products, including exports, during Q1 2017-18. Our refining throughput for Q1 2017-18 was 17.521 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 21.351 million tonnes during the same period. The gross refining margin (GRM) during Q1 2017-18 was US$ 4.32 per bbl as compared to US$ 9.98 per bbl in Q1 2016-17.”

Sarkaritel
By Sarkaritel August 3, 2017 18:49