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Indian Oil Posts Profit

Indian Oil Posts Profit

Indian Oil Corporation (IndianOil) has posted financial results for the quarter ended 30th June 2018. Quarterly publishing of Consolidated Financial Statement starting from the first quarter of FY 2018-19 has been voluntarily adopted by the company.

In Q1 FY 2018-19, IndianOil’s Revenue from Operations was Rs. 1,49,747 crore, compared to Rs. 1,28,183 crore in the corresponding quarter of FY 2017-18. Compared to Rs. 4,549 crore for the first quarter of FY 2017-18, profit for the first quarter of FY 2018-19 is Rs. 6,831 crore. Higher inventory gains of Rs. 7,866 crore during the current quarter is the major reason for the variation, partly compensated by lower refining margins and exchange losses.

There was a rise to 17.666 MMT in refinery throughput of the Company for the quarter ended 30th June 2018, as against 17.521 MMT in the corresponding quarter of financial year 2017-18, registering a growth of 0.8%.

Compared to 21.351 MMT in the corresponding quarter of the last year, pipelines throughput of the Company for the quarter ended 30th June 2018 was 22.852 MMT, Growth of 7.0%. Domestic sales for the quarter ended 30th June 2018 has increased to 21.618 MMT as against 20.736 MMT in the corresponding quarter of the financial year 2017-18, registering a growth of 4.3%.

For the quarter ended 30th June 2018, the Gross Refining Margin (GRM) of the Company was $10.21/bbl as compared to $ 4.32/bbl in the corresponding quarter of the financial year 2017-18. As compared to $6.44/bbl during the corresponding quarter of the previous year, Margin excluding inventory gains/ losses and price lag for the quarter was $ 5.18/bbl.

For the quarter ended 30th June 2018, the finance cost was Rs. 1,031 crore as compared to Rs. 739 crore in the corresponding quarter of the financial year 2017-18.

Revenue from Operations increased to Rs.1,49,747 crore, a growth of 16.8%. For the period April-June’18, earnings Per Share is Rs. 7.21. Refinery throughput increased by 0.8% to 17.666 MMT. There was an increase in Pipelines Throughput by 7.0% to 22.852 MMT. Increase in Domestic Sales by 4.3% to 21.618 MMT. Total Sales increased by 1.6% to 22.866 MMT. For Q1 18-19, Gross Refining Margin (GRM) is $10.21/bbl compared to $ 4.32/bbl in Q1 17-18.

For the period Apr-June’18, revenue from Operations of the group is Rs. 1,51,814 crore. Rs. 7,176 crores is the Profit after Tax for the group. For the period April-June’18, Earnings per Share is Rs. 7.48.

Sanjiv Singh, IndianOil Chairman, said, “IndianOil sold 22.866 MMT of products, including exports, during Q1 2018-19. Our refining throughput for Q1 2018-19 was 17.666 MMT and the throughput of the Corporation’s countrywide pipelines network was 22.852 MMT during the same period. The Gross Refining Margin (GRM) for the first quarter of 2018-19 was US$ 10.21 per bbl as compared to US$ 4.32 per bbl in the corresponding quarter of 2017-18.” PWKD15082018

Last modified onTuesday, 14 August 2018 23:25
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