IndianOil reported Revenue from Operations of 4,61,451 crores for the first nine months of FY 18-19 as compared to 3,69,711 crores in corresponding period of FY 17-18. The Net Profit for the nine months ended 31st December 2018 is lower at 10,795 crores as compared to 16,128 crores during the corresponding period of the previous year mainly on account of lower refining margins and exchange losses.
The reported Revenue from Operations of IndianOil is 1,60,138 crores in Q3 18-19 as compared to 1,30,876 crores in the corresponding quarter of FY 17-18. Profit for the third quarter of FY 18-19 is 717 crores as compared to 7,883 crores in the corresponding quarter of FY 17-18. Inventory losses in the current quarter has resulted into lower profits.
IndianOil Chairman, Mr. Sanjiv Singh, said, "IndianOil sold 67.256 million tonnes of products, including exports, during the first nine months of 2018-19. Our refining throughput for 9M 18-19 was 54.465 million tonnes and the throughput of the Corporation''s countrywide pipelines network was 67.300 million tonnes during the same period. The gross refining margin (GRM) during the period Apr-Dec''18 was US$ 5.83 per bbl as compared to US$ 8.28 per bbl in corresponding period of FY 17-18."
For the third quarter of FY 18-19, IndianOil''s product sales volumes, including exports, was 22.794 million tonnes. The refining throughput was 18.982 million tonnes in Q3 18-19 and the throughput of the Corporation''s countrywide pipelines network was 23.083 million tonnes during the same period.