IndianOil fourth quarter net profit up 40 per cent at Rs 5,218 crore
New Delhi   23-May-2018

Indian Oil Corporation (IOC), the nation’s largest fuel retailer, today announced a 40 per cent jump in net profit for the quarter ended March 2018 at Rs 5,218 crore on a standalone basis as compared to Rs 3,720 crore reported for the same quarter previous fiscal.

Total income of the company during the quarter also rose 10 per cent to Rs 136,980 crore from Rs 124,405 crore in the corresponding quarter, it said in a Bombay Stock Exchange (BSE) filing. The company’s refinery throughput increased marginally to 17.15 Million Tonnes (MMT) during the three months ended March 2018 as compared to 17.08 MT in the corresponding quarter a year ago.

Domestic sales of the firm rose 5.85 percent to 20.79 MT during the fourth quarter while its exports increased to 1.76 MT as compared to 1.54 MT recorded in the corresponding period a year ago.

For the full financial year ended March 2018, the company’s net profit increased 10.9 per cent to Rs 22,626 crore as compared to net profit of Rs 20,385 crore reported in 2016-17. Total income of the company last financial year (2017-18) also jumped 13 per cent per cent to Rs 518,961 crore as compared to Rs 457,656 crore in the previous fiscal.

The company’s refinery throughput for the full financial year of 2017-2018 grew by 6.15 per cent to 69 MT as compared to 65 MT in the year ago period. Its domestic sales for the full financial year 2017-2018 rose 3.61 percent to 81.48 MT, while exports increased to 7.27 MT as compared to 4.84 MT recorded in the year ago period. IndianOil’s Gross Refinery Margin (GRM) in 2017-2018 stood at $8.49 per barrel as compared to $7.77 per barrel in the year ago period. The company said it plans to invest Rs 22,862 crore in the current financial year (2018-2019) as compared to Rs 18,848 crore spent in the last fiscal. IOC’s stock at BSE was trading at Rs 163.20, down 1.15 per cent, at 14:43 hours today.