Indian Oil Corporation Ltd. (IndianOil) has registered a profit of Rs. 5294 crore for the second quarter of the current financial year ended September 2010 as compared to a profit of Rs. 284 crore for the same quarter of the previous year. The profit for the current quarter could be achieved mainly due to Government compensation of Rs. 7220 crore approved for both the quarters as compared to NIL during the corresponding quarter of previous year and increased refining margins.
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 rose by 14.5% to Rs. 74,757 crore from Rs. 65,262 crore during the same period last year.
Mr. B M Bansal, Chairman, IndianOil, said, "IndianOil sold 16.920 million tonnes of products, including exports, during the second quarter of 2010-11. Our quarterly refining throughput was 12.133 million tonnes and the throughput of the Corporation's countrywide pipelines network went up by 0.1% to 15.544 million tonnes as compared to same quarter of previous year."
View Q2 results