News Release Details

IndianOil turnover grows 9.5% to Rs. 58205 crore in Q1 2007-08
New Delhi   30-Jul-2007
Indian Oil Corporation Ltd. (IndianOil) registered a net profit of Rs. 1468 crore during the first quarter of the current fiscal as per the unaudited financial results declared by the IndianOil Board today. Profit for the first quarter includes impact of Exchange Gain of Rs. 1134 crore as compared to Exchange Loss of Rs. 498 crore during April – June 2006. Further profit for April – June 2006 includes Rs. 3225 crore being profit on sale of 20% equity holding in ONGC Ltd. during April 2006.The Company has suffered a net under-realisation of Rs. 4879 crore on sale of MS, HSD, SKO and LPG during the first quarter of 2007-08 as against Rs. 5504 crore during the corresponding quarter of the previous year.

The sales turnover for the first quarter of 2007-08 increased by 9.5% to Rs.58205 crore from Rs. 53142 crore in the corresponding quarter of the previous year.

IndianOil sold 14.68 million tonnes of petroleum products (including Gas sales) in the domestic market, besides exporting 0.93 million tonnes, in the first quarter of 2007-08. Its seven refineries together achieved a throughput of 12.02 million tonnes and the pipelines network transported 14.60 million tonnes of crude oil and products.