News Release Details

IndianOil Posts Rs. 2,959 Crore Profit for Q3
New Delhi 30-Jan-2009
<div align=right><a href=/downloads/IOC_Q3_08_09.pdf class=normallink><b>Unaudited Financial Results </b></a></div> <div align=center><b>IndianOil Posts Rs. 2,959 Crore Profit for Q3</b></div><div align=center><b>(Gross Turnover up by 2.6% to Rs. 66,399 crore)</b> </div><div align=center><b>(Net Loss for Nine-Month Period Comes Down to Rs. 3,673 Crore)</b></div> Indian Oil Corporation Ltd. (IOC) has registered a Profit of Rs. 2,959 crore for the third quarter of the current financial year ended December 2008 as compared to a Profit of Rs. 2,091 crore for the same quarter of the previous year. The profit could be achieved due to the Government’s support by way of additional bonds, in spite of inventory losses and lower refining margins. The Corporation’s Gross Turnover for the same period moved up by 2.6%, to Rs. 66,399 crore from Rs. 64,726 crore. The throughput of its pipelines network for the third quarter at 14.48 million tonnes was higher than that of the corresponding quarter of the previous year while the refineries throughput, at 12.04 million tonnes, is close to last year’s level. The unaudited financial results of the Corporation were taken on record at the meeting of the Board of Directors here today. The Corporation’s net loss for the period of nine months ended Dec. 2008 was Rs. 3,673 crore as against a Profit of Rs. 7,377 crore for the same period. 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) during the period of nine months ended Dec. 2008 was Rs. 7,539 crore (after considering Upstream Discount of Rs. 18,059 crore and Special Oil Bonds of Government of India of Rs. 34,165 crore) as compared to Rs. 6,515 crore in the corresponding period of the previous year. The Corporation’s Gross Turnover moved up by 27.9%, to Rs. 2,26,662 crore during the period Apr-Dec. 08 from Rs. 1,77,223 crore for the corresponding period of the previous year. Mr Behuria added that the Corporation sold 48.91 million tonnes of products, including exports, during the period Apr-Dec. 08. The throughput of its refineries and pipelines network was 36.60 million tonnes and 43.86 million tonnes respectively for the same period. <div align=right><a href=/downloads/IOC_Q3_08_09.pdf class=normallink><b>Unaudited Financial Results </b></a></div>

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The term User shall refer to the user who is browsing the site. The term IndianOil shall refer to Indian Oil Corporation Limited. The term Site refers to www.iocl.com owned and monitored by IndianOil.
By using the Site, you agree to follow and be bound by the following terms and conditions concerning your use of the Site. IndianOil may revise the Terms of Use at any time without notice to you. Areas of the Site may have different terms of use posted. If there is a conflict between the Terms of Use and terms of use posted for a specific area of the Site, the latter shall have precedence with respect to your use of that area of the Site.
ndianOil may terminate User's access at any time for any reason. The provisions regarding to disclaimer of warranty, accuracy of information, and indemnification shall survive such termination. IndianOil may monitor access to the Site.
All content present on this site is the exclusive property of IndianOil. The software, text, images, graphics, video and audio used on this site belong to IndianOil. No material from this site may be copied, modified, reproduced, republished, uploaded, transmitted, posted or distributed in any form without prior written permission from IndianOil. All rights not expressly granted herein are reserved. Unauthorized use of the materials appearing on this site may violate copyright, trademark and other applicable laws, and could result in criminal or civil penalties. IndianOil is a registered trademark of Indian Oil Corporation Ltd. This trademark may not be used in any manner without prior written consent from IndianOil.
IndianOil does not make any warranties, express or implied, including, without limitation, those of merchantability and fitness for a particular purpose, with respect to any information, data, statements or products made available on the Site.
The Site, and all content, materials, information, software, products and services provided on the Site, are provided on an "as is" and "as available" basis. IndianOil expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose and non-infringement.
IndianOil shall have no responsibility for any damage to User's computer system or loss of data that results from the download of any content, materials, information from the Site.
IndianOil may change or discontinue any aspect of its website at any time, including, its content or features. IndianOil reserves the right to change the terms and conditions applicable to use of the Site. Such changes shall be effective immediately upon notice, which shall be placed on the Site.
In no event will IndianOil be liable for damages of any kind, including without limitation, direct, incidental or consequential damages (including, but not limited to, damages for lost profits, business interruption and loss of programs or information) arising out of the use of or inability to use IndianOil's website, or any information provided on the website, or in the Products any claim attributable to errors, omissions or other inaccuracies in the Product or interpretations thereof. Some jurisdictions do not allow the limitation or exclusion of liability. Accordingly, some of the above limitations may not apply to the User.
User agrees to indemnify, defend and hold IndianOil harmless from and against all losses, expenses, damages and costs, including reasonable attorneys' fees, arising out of or relating to any misuse by the User of the content and services provided on the Site.
The information contained in the Site has been obtained from sources believed to be reliable. IndianOil disclaims all warranties as to the accuracy, completeness or adequacy of such information.
IndianOil makes no warranty that: (a) the Site will meet your requirements; (b) the Site will be available on an uninterrupted, timely, secure, or error-free basis; (c) the results that may be obtained from the use of the Site or any services offered through the Site will be accurate or reliable.
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