IndianOil reports net profit of Rs. 11,391 cr. in H1, 2016-17

Sarkaritel
By Sarkaritel October 28, 2016 10:35

IndianOil reports net profit of Rs. 11,391 cr. in H1, 2016-17


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New Delhi, October 28, 2016: IndianOil posted a net profit of Rs. 11,391 crore for the half year ended 30th September 2016 as compared to net profit of Rs. 6,141 crore during the corresponding period of the previous year. The income from operations for the first half of FY 2016-17 was Rs. 2,07,475 crore as compared to Rs.2,11,043 crore in corresponding period of FY 2015-16 and despite better physicals, the decrease is purely because of fall in international prices in current period.

IndianOil’s income from operations was Rs. 1,00,274 crore in Q2 16-17 as compared to Rs. 97,299 crore in the corresponding quarter of 2015-16. Profit for the second quarter of 2016-17 is at Rs. 3,122 crore as compared to loss of Rs. 450 crore in the corresponding quarter of 2015-16 mainly due to improved refining and petrochemical margins.

IndianOil Chairman, Mr. B Ashok, said, “IndianOil sold 41.076 million tonnes of products, including exports, during the first six months of 2016-17. Our refining throughput for H1 2016-17 was 31.734 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 42.411 million tonnes during the same period. The gross refining margin (GRM) during the period Apr-Sept’16 was US$ 7.19 per bbl as compared to US$ 5.76 per bbl in corresponding period of FY 2015-16.”

Sarkaritel
By Sarkaritel October 28, 2016 10:35