News Release Details

IndianOil reports net profit of Rs. 9,163 crore in 9 Months, FY 2015-16
New Delhi   12-Feb-2016

Downstream Oil Company, IndianOil has reported a standalone net profit of Rs. 9,163 crore on income from operations of Rs. 2,70,154 crore for the nine months ended 31st December 2015 as compared to a net loss of Rs. 1,012 crore on income from operations of Rs. 3,43,694 crore during the corresponding period in the previous year. This is mainly due to higher refining & petrochemical margins and reduced inventory losses in the current period compared to corresponding previous period.

For the quarter ended 31st December 2015, IndianOil has reported a standalone net profit of Rs. 3,057 crore on Income from Operations of Rs. 83,462 crore. During the corresponding period in the previous year, the Corporation reported a net loss of Rs. 2,637 crore on Income from Operations of Rs. 1,07,074 crore. The variation is mainly on account of higher refining margins and reduced inventory losses in the current quarter compared to corresponding previous quarter.

The Board of Directors declared an interim dividend of 55% (` 5.50 per share).

Mr. B. Ashok, Chairman, IndianOil, said, “IndianOil’s product sales volumes including exports has increased by 3.7% and stood at 59.149 MMT during the first nine months of FY 2015-16 as against 57.042 MMT in the corresponding previous period. IndianOil's refining throughput has increased by 4.0% to 41.675 MMT in the first nine months of current fiscal compared to 40.081 MMT in corresponding period of last fiscal. The throughput of the Corporation’s countrywide pipelines network has grown by 3.9% to 59.429 MMT during the period Apr-Dec'2015 compared to 57.223 MMT in Apr-Dec'2014.

Product sales volumes including exports registered a growth of 1.9% to 19.606 MMT during the third quarter of FY 2015-16 as against 19.243 MMT in the corresponding period of previous year. Our refining throughput has grown by 4.5% to 14.424 MMT during current quarter compared to 13.808 MMT in the corresponding previous quarter. The throughput of the Corporation’s countrywide pipelines network has also increased by 6.2% at 20.492 MMT during the current quarter as against 19.294 MMT in the corresponding quarter of previous year.”

To view Unaudited Financial Results for Q3 (2015-16), please click here