IOC Q1 Results: Firm reports standalone net loss of Rs 1,993 crore; revenue surges 62%

Sarkaritel
By Sarkaritel July 29, 2022 16:26

IOC Q1 Results: Firm reports standalone net loss of Rs 1,993 crore; revenue surges 62%


New Delhi, July 29, 2022: IndianOil reported Revenue from Operations of ₹2,51,933 crores for the first quarter of Financial Year 2022-23 as compared to ₹1,55,056 crores in corresponding quarter of previous financial year. The Net Loss for the quarter ended 30th June 2022 is ₹1,993 crores as compared to Net Profit of ₹5,941 crores during the corresponding quarter of previous financial year mainly on account of lower marketing margins during current quarter.

IndianOil Chairman, Mr. S.M. Vaidya, said, “IndianOil sold 24.648 million tonnes of products, including exports, during the first quarter of financial year 2022-23. Our refining throughput for Q1 2022-23 is 18.936 million tonnes and the throughput of the Corporation’s countrywide pipelines network including gas pipelines is 24.649 million tonnes during the same period. The gross refining margin (GRM) during the first quarter of FY 2022-23 is $31.51 per bbl as compared to $6.58 per bbl in corresponding quarter of previous financial year. The core GRM for current period after offsetting inventory loss/ gain comes to $25.34 per bbl.”

Sarkaritel
By Sarkaritel July 29, 2022 16:26