IndianOil Q4 profit rises 17% to 6,099 Cr

State owned Indian Oil corporation Limited (IOCL) reported Revenue from Operations of IndianOil at ₹1,44,472 crores in Q4 18-19 as compared to ₹1,36,716 crores in the corresponding quarter
of FY 17-18. Profit for the fourth quarter of FY 18-19 was ₹6,099 crores against  ₹5,218 crores in the corresponding period o previous. The variation was majorly on account of exchange gain during the
quarter.

IndianOil reported Revenue from Operations of ₹6,05,924 crores for the Financial Year 18-19 as compared to ₹5,06,428 crores in corresponding Financial Year 17-18. The Net Profit for the financial year ended 31st
March 2019 was however was lower at ₹16,894 crores as compared to ₹21,346 crores during the corresponding year mainly on account of exchange losses and lower inventory gain during current year.

The IndianOil Chairman, Mr. Sanjiv Singh, said, “IndianOil sold 89.894 million tonnes of products, including exports, during the financial year 2018-19. Our refining throughput for FY 18-19 was 71.816 million
tonnes and the throughput of the Corporation’s countrywide pipelines network was 88.527 million tonnes during the year. The gross refining margin (GRM) during the year 18-19 was US$ 5.41 per bbl as compared to
US$ 8.49 per bbl in corresponding financial year.”

For the fourth quarter of FY 18-19, IndianOil’s product sales volumes, including exports, was 22.638 million tonnes. The refining throughput was 17.351 million tonnes in Q4 18-19 and the throughput of the
Corporation’s countrywide pipelines network was 21.227 million tonnes during the same period.