IOCL Q3 profit nearly doubles to Rs 7,883 cr

For the third quarter of 2017-18, IOCL product sales volumes was 22.810 mn tonnes

GN Bureau | January 31, 2018


#IOCL   #Indian oil  

Indian Oil Corporation has posted close to two-fold jump in net profit of third quarter of the current fiscal. It clocked a profit of Rs 7,883 crore in Q3 of this fiscal, compared to Rs 3,995 crore registered in Q3 of the last fiscal.

 
The Maharatna enterprise has clocked Rs 3,69,693 crore revenue from operations in the first nine months of the current fiscal as compared to Rs 3,23,088 crore in corresponding period of 2016-17 fiscal.
 
IndianOil chairman Sanjiv Singh, said, “IOCL sold 66.204 million tonnes of products, including exports, during the first nine months of 2017-18. Our refining throughput for 9M 17-18 was 51.849 million tonnes and the throughput of the corporation’s countrywide pipelines network was 63.113 million tonnes during the same period. The gross refining margin (GRM) during the period Apr-Dec'17 was US$ 8.28 per bbl as compared to US$ 7.36 per bbl in corresponding period of FY 16-17.”
 
The net profit for the same period, ended December 31, 2017, stood at Rs 16,128 crore as compared to Rs 15,386 crore during the corresponding period of the last fiscal.
 
For the third quarter of FY 17-18, IOCL product sales volumes, including exports, was 22.810 million tonnes. The refining throughput was 18.232 million tonnes in Q3 FY 17-18 and the throughput of the corporation's countrywide pipelines network was 22.417 million tonnes during the same period. The gross refining margin (GRM) for the third quarter of FY 17-18 was US$ 12.32 per barrel as compared to US$ 7.67 per barrel in the corresponding quarter of FY 16-17.

Comments

 

Other News

El Niño threatens India’s Rabi crops

India’s southwest monsoon ended with a 13% rainfall deficit in 2026, its weakest performance in a decade, raising concerns over agricultural production, water security and the upcoming rabi season. With El Niño expected to persist into early 2027, experts warn that declining soil moisture, dep

Regulating the data advantage: India’s new e-Commerce framework

For over a decade, India’s e-commerce story has rested on a simple premise: platforms connect buyers and sellers, while data fuels efficiency, personalisation, and scale. However, as the market matured, its structure has revealed a growing imbalance. E-commerce platforms, especially marketplace ent

Changing weather patterns, climate change responsible for Nepal floods

The interaction between active Western Disturbances, increased atmospheric moisture and the region’s complex topography aswell as global warming are important factors behind intense rainfall in the Himalayas, leading to flash floods in Nepal, according to meteorologists. Nepal

A right she cannot reach

Last summer, the two of us spent several weeks in rural Madhya Pradesh with a non-profit that works on gender justice through women’s self-help groups. We went in with a notebook full of laws. The Protection of Women from Domestic Violence Act. The Dowry Prohibition Act. Free legal aid for every wo

Tier-2 cities lead India’s digital credit push

Digital payments have become a reflex for urban India, but the confidence earned in paying has not yet carried over to borrowing. That is the central finding of `How Urban India Pays Report 2026`, released by Pahlé India Foundation in collaboration with Amazon Pay. Based on a survey of 5,149 consu

India calls for doubling bilateral trade with UK by 2030

Commerce and industry minister Piyush Goyal has called upon businesses in India and the United Kingdom to translate the opportunities created by the India-UK Comprehensive Economic and Trade Agreement (CETA) into expanded trade, investment, partnerships and job creation. Addressing the Bu

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter