IOCL clocks net profit of Rs 8,245 crore

IndianOil sold 43.394 million tonnes of products in the first six months of 2017-18

GN Bureau | October 30, 2017


#PSU   #IndianOil   #income  

 Indian Oil has registered income of Rs 2,38,828 crore for the first half of 2017-18 fiscal as compared to Rs 2,07,458 crore in the corresponding period of the last fiscal. 

The enterprise’s net profit for the half year ended September 20, 2017 stood at Rs 8,245 crore as compared to Rs 11,391 crore during the same period of the last fiscal, majorly due to inventory losses during the current period as against inventory gains during first half of 2016-17.
 
The reported income from operations of IndianOil is Rs 1,10,637 crore in the second quarter of 2017-18 as compared to Rs 1,00,260 crore in the corresponding quarter of 2016-17. 
 
“IndianOil sold 43.394 million tonnes of products, including exports, during the first six months of the current fiscal. Our refining throughput for the first half of 2017-18 was 33.617 million tonnes. The gross refining margin during April-September 2017 was $ 6.08 per bbl as compared to $ 7.19 per bbl in corresponding period of 2016-17 fiscal,” said IOCL chairman Sanjiv Singh.
 
For the second quarter of current fiscal, IndianOil’s product sales volumes, including exports, was 20.886 million tonnes.
 

Comments

 

Other News

Elections 2024: 1,351 candidates in fray for Phase 3

As many as 1,351 candidates from 12 states /UTs are contesting elections in Phase 3 of Lok Sabha Elections 2024. The number includes eight contesting candidates for the adjourned poll in 29-Betul (ST) PC of Madhya Pradesh. Additionally, one candidate from Surat PC in Gujarat has been elected unopp

2023-24 net direct tax collections exceed budget estimates by 7.40%

The provisional figures of direct tax collections for the financial year 2023-24 show that net collections are at Rs. 19.58 lakh crore, 17.70% more than Rs. 16.64 lakh crore in 2022-23. The Budget Estimates (BE) for Direct Tax revenue in the Union Budget for FY 2023-24 were fixed at Rs. 18.

‘World’s biggest festival of democracy’ begins

The much-awaited General Elections of 2024, billed as the world’s biggest festival of democracy, began on Friday with Phase 1 of polling in 102 Parliamentary Constituencies (the highest among all seven phases) in 21 States/ UTs and 92 Assembly Constituencies in the State Assembly Elections in Arunach

A sustainability warrior’s heartfelt stories of life’s fleeting moments

Fit In, Stand Out, Walk: Stories from a Pushed Away Hill By Shailini Sheth Amin Notion Press, Rs 399

What EU’s AI Act means for the world

The recent European Union (EU) policy on artificial intelligence (AI) will be a game-changer and likely to become the de-facto standard not only for the conduct of businesses but also for the way consumers think about AI tools. Governments across the globe have been grappling with the rapid rise of AI tool

Indian Railways celebrates 171 years of its pioneering journey

The Indian Railways is celebrating 171 glorious years of its existence. Going back in time, the first train in India (and Asia) ran between Mumbai and Thane on April 16, 1853. It was flagged off from Boribunder (where CSMT stands today). As the years passed, the Great Indian Peninsula Railway which ran the

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter