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Indian Oil Posts Rs. 8,245 Cr Net Profit For H1 2017-18

Indian Oil Posts Rs. 8,245 Cr Net Profit For H1 2017-18

Rs.1,10,637 crores is the reported income from operations of IndianOil in Q2 17-18, when compared to Rs.1,00,260 crores in the corresponding quarter of FY 16-17.

Indian Oil has posted a net profit of Rs. 8,245 crores for the half year ended 30th September 2017 as compared to Rs. 11,391 crores, during the corresponding period of the previous year majorly due to inventory losses during the current period as against inventory gains during first half of FY 16-17. Income from operations is at Rs.2,38,828 crores for the first half of FY 17-18, as compared to Rs.2,07,458 crores in corresponding period of FY 16-17.

For the second quarter of FY 17-18, profit is at Rs. 3,696 crores as compared to profit of Rs. 3,122 crore in the corresponding quarter of FY 16-17.

“IndianOil sold 43.394 million tonnes of products, including exports, during the first six months of 2017-18,” said IndianOil Chairman, Mr. Sanjiv Singh. “Our refining throughput for H1 17-18 was 33.617 million tonnes and the throughput of the Corporation's countrywide pipelines network was 40.696 million tonnes during the same period. The gross refining margin (GRM) during the period Apr-Sept'17 was US$ 6.08 per bbl as compared to US$ 7.19 per bbl in corresponding period of FY 16-17.”

IndianOil's product sales volumes, including exports, was 20.886 million tonnes for the second quarter of FY 17-18. 16.096 million tonnes was the refining throughput in Q2 FY 17-18 and the throughput of the Corporation's countrywide pipelines network was 19.345 million tonnes during the same period. For the second quarter of FY 17-18, the gross refining margin (GRM) was US$ 7.98 per bbl as compared to US$ 4.32 per bbl in the corresponding quarter of FY 16-17. PWKD31102017

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