News Release Details

IndianOil Posts Rs. 415 Crore Profit for Q1
New Delhi   30-Jul-2008
<div align=right><a href=/downloads/IOC_Q1_08_09new1.pdf class=normallink target=_blank>Unaudited Financial Results(Provisional) for the Quarter ended 30th June, 2008</a></div> <b>Gross Turnover up by 38.7% to Rs. 80,735 Crore </b> Indian Oil Corporation Ltd. (IOC) has registered a Profit of Rs. 415 crore for the first quarter of the current financial year ended June 2008 as compared to Rs. 1,468 crore for the same quarter of the previous year. The Corporation’s Gross Turnover for the same period moved up by 38.7%, to Rs. 80,735 crore from Rs. 58,205 crore. The unaudited financial results of the Corporation were taken on record at the meeting of the Board of Directors here today. According to IndianOil Chairman, Mr. Sarthak Behuria, the under-recovery on account of non-realisation of market-related prices for Petrol, Diesel, PDS Kerosene and LPG (Domestic) for the quarter was Rs. 7,320 crore (after considering Government of India Special Oil Bonds of Rs. 13,527 crore). Mr. Behuria added that the Corporation sold 16.99 million tonnes of products, including exports, during the first quarter of 2008-09. Its seven refineries registered a combined throughput of 12.55 million tonnes, with a capacity utilisation of 106%. The Corporation’s pipelines network too registered over 100% capacity utilisation with a throughput of 15.11 million tonnes for the same period.