News Release Details

IndianOil Posts Rs. 3818 Crore Profit for Q2
New Delhi   30-Oct-2007
IndianOil has registered a profit of Rs. 3818 crore for the second quarter of the current financial year ended September 2007 as compared to Rs. 2884 crore for the same quarter in the previous year. The throughput of its refineries and pipelines network for the quarter at 11.04 million tonnes and 13.40 million tonnes respectively was also higher than that of the corresponding quarter of the previous year. The unaudited financial results of the Corporation were taken on record at the meeting of the Board of Directors here today. For the first six months ended Sept. 2007, the Corporation’s net profit was Rs. 5286 crore as against Rs. 4205 crore for the same period of the previous year, an increase of 25.70%. 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 first six months of the current fiscal was Rs. 3508 crore (after considering approval received from the Government of India for issuance of Special Oil Bonds of Rs. 6362 crore) as compared to Rs. 3328 crore in the corresponding period of the previous year. The Corporation’s Gross Turnover moved up by 3.92%, to Rs. 112497 crore during the first half of 2007-08 from Rs. 108248 crore for the corresponding period of the previous year. Mr. Behuria added that the Corporation sold 29.87 million tonnes of products, including gas & exports, during the first half of 2007-08. The throughput of its refineries and pipelines network was 23.06 million tonnes and 28.00 million tonnes respectively for the same period. For the unaudited Quarter - 2 Results 2007-08, <a href=/downloads/Q2Result2007_08.pdf class=normallink target=_blank>click here</a>