IndianOil’s Q1 consolidated net profit up 51% to Rs 7,175 cr

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Mumbai, Aug 11 (IANS) State-run Indian Oil Corporation (IndianOil) on Saturday posted a consolidated net profit of Rs 7,175.59 crore, up 51 per cent year-on-year, for the quarter ended June 30, 2018.

The consolidated net profit for the corresponding quarter of the previous fiscal stood at Rs 4,736.15 crore, the company said in a BSE filing.

The country’s largest oil marketer registered a total income of Rs 1.52 lakh crore for the April-June quarter, a hike of 15 per cent from Rs 1.32 lakh crore in the year-ago quarter.

“IndianOil sold 22.866 MMT (million metric tonnes) of products, including exports, during Q1 2018-19,” IndianOil Chairman Sanjiv Singh was quoted as saying in a statement.

“Our refining throughput for Q1 2018-19 was 17.666 MMT and the throughput of the corporation’s countrywide pipelines network was 22.852 MMT during the same period.”

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According to the company, its Gross Refining Margin (GRM) for the first quarter was $10.21 per bbl as compared to $4.32 per bbl in the corresponding quarter of 2017-18.

The company’s standalone net profit for the quarter under review increased to Rs 6,831 crore as against Rs 4,549 crore reported for Q1 2017-18.

The company’s standalone revenue from operations increased by 16.8 per cent to Rs 149,747 crore.

–IANS

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