Indian Oil Corporation Ltd. (IndianOil) has registered a Profit of Rs. 697 crore for the third quarter of the current financial year ended December 2009 as compared to a Profit of Rs. 2,959 crore for the same quarter of the previous year. The profit for the current quarter could be achieved mainly due to budgetary support from Government of India amounting to Rs. 4,483 crore accounted for in the current quarter.
The unaudited financial results of the Corporation were taken on record at the meeting of the Board of Directors here today.
The Corporation’s Gross Turnover for the same period moved up by 6.02%, to Rs. 70,415 crore from Rs. 66,415 crore during the same period last year. In terms of physical performance, the throughput of its refineries and pipelines network was 12.534 million tonnes and 15.875 million tonnes respectively for the quarter. The product sales including exports for the quarter were 17.645 million tonnes.
The Corporation’s net profit for the period of nine months ended December 2009 was Rs. 4,664 crore as against loss of Rs. 3,673 crore for the same period last year. The Gross Turnover was lower by 12.13 % to Rs. 1,99,207 crore during the period April–December 2009 from Rs. 2,26,717 crore for the corresponding period of the previous year.
According to IndianOil Chairman, Mr. Sarthak Behuria, the Corporation sold 52.19 million tonnes of products, including exports, during the period April-December’09. The throughput of its refineries and pipelines network was 37.412 million tonnes and 47.516 million tonnes respectively for the nine-month period.
Mr. Behuria, added that the under-recovery on account of non-realisation of market-related prices for SKO (PDS) and LPG (Domestic) during the period of nine months ended December 2009 was Rs. 7,936 crore (after considering Upstream Discount of Rs. 4,303 crore and Budgetary Support from Government of India of Rs. 4,483 crore) as compared to Rs. 7,539 crore in the corresponding period of the previous year for petrol, diesel, PDS kerosene and LPG (Domestic).
|