IOC posts 246% jump in profit
New Delhi   29-May-2010

IndianOil posted a 246 per cent jump in net profit for 2009-10 fiscal due to good sale of petroleum products .The Company's net profit was at Rs 10,220.55 crore and turnover Rs 2,71,074 crore in 2009-10 fiscal.

"While the overall petroleum products consumption in the country grew at 3.4 per cent during the year, IOC notched up a growth of 4.6 per cent. The corporation's refineries surpassed 100 per cent capacity utilisation for the third consecutive year and clocked a throughput of 50.7 million tonnes," said IOC chairman B. M. Bansal. Boosted by a strong performance, Mr Bansal said the company is now considering reviving projects it had put on the back burner.