IOC Q1 revenues at Rs 88,937 cr, net profit at Rs. 1911 cr

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New Delhi, July 31  IndianOil reported Revenue from Operations of ₹88,937 crores for the first quarter of Financial Year 20-21 as compared to ₹1,50,137 crores in corresponding period of Financial Year 19-20. The Net Profit for the period ended 30th June 2020 is lower at ₹1,911 crores as compared to ₹3,596 crores during the corresponding period of previous financial year mainly on account of inventory losses during current period.

IndianOil Chairman, Mr. S.M. Vaidya, said, “IndianOil sold 16.504 million tonnes of products, including exports, during the first quarter of financial year 2020-21. Our refining throughput for Q1 20-21 was 12.930 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 15.017 million tonnes during the same period.

The gross refining margin (GRM) during the first quarter of FY 20-21 was $(1.98) per bbl as compared to $4.69 per bbl in corresponding period of previous financial year.

The core GRM for current period after offsetting inventory loss/ gain comes to $4.27 per bbl.”