Indian Oil announces Q1 2018-19 financial results

Profit for the first quarter of FY 2018-19 is Rs. 6,831 crore as compared to Rs. 4,549 crore in the corresponding quarter of the last fiscal

GN Bureau | August 22, 2018


#Indian Oil   #PSU   #IOCL  

Indian Oil’s revenue from operations stood at Rs 1,49,747 crore in Q1 2018-19 fiscal as compared to Rs. 1,28,183 crore in the corresponding quarter of the previous fiscal.

Profit for the first quarter of FY 2018-19 is Rs. 6,831 crore as compared to Rs. 4,549 crore in the corresponding quarter of the previous fiscal. The variation is majorly on account of higher inventory gains of Rs. 7,866 crore during the current quarter, which is partly compensated by lower refining margins and exchange losses.

The oil PSU has voluntarily adopted quarterly publishing of consolidated financial statement starting from the first quarter of FY 2018-19.

IOCL chairman Sanjiv Singh said, “Indian Oil sold 22.866 MMT of products, including exports, during Q1 2018-19. 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. The gross refining margin (GRM) for the first quarter of 2018-19 was US$ 10.21 per bbl as compared to US$ 4.32 per bbl in the corresponding quarter of 2017-18.”

 

Comments

 

Other News

How Covid-19 can be a boon to slash tobacco disease burden

 The two-month Covid-19 lockdown has been both a bane and a boon for India’s 27 crore tobacco users. With tobacco not included in the list of essential goods and many states explicitly banning chewing tobacco over concerns of spitting, the sharp drop in availability has forced them to undergo wi

Maharshtra braces to face Cyclone Nisarga

 Even as Mumbai fights challenges posed by COVID-19 on multiple fronts and as the  coronavirus cases continue to rise daily, the city now faces a double whammy with the cyclone ‘Nisarga’ slated to make the landfall in Maharashtra Wednesday. A state-wide alert has been issued for Mumba

Harnessing the demographic capital: how effective are skilling programmes?

Probing data concerning increased job creation and the decline in unemployment has been holding the attention of economists and been subject of discussions in several think tanks in the preceding months. The NITI Aayog reports that 3.53 million new jobs were created between September 2017 and February 2018

It`s time to Unlock now, with economic focus

With Lockdown 4 ending Sunday, the home ministry has issued new guidelines to fight COVID-19 and for phased re-opening of areas outside the Containment Zones. The guidelines, issued based on extensive consultations held with states and UTs, will be effective from June 1 till June 30. The first phase of reo

Small kitchen gardens turn saviours for Gujarat tribal families

When the whole world is fighting COVID-19, food and nutrition security has become a major issue. The pandemic has aggravated the existing food crisis in India, especially in rural and tribal regions. There has been less availability of fresh foods in most parts of the country, and the tribal community has

India will set example of post-Covid-19 economic revival: Modi

India is determined to “set an example” for the rest of the word in the post-pandemic economic revival, prime minister Narendra Modi has said, underling the need to become self-reliant. “There is also a widespread debate on how the economies of various countries, including



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter