Mr. Sanjiv Singh, Chairman, IndianOil sharing IndianOil's Financial Results 2017-18 at Corporation's Annual Press Conference
The audited financial results of Indian Oil Corporation (IndianOil) were approved at the meeting of the Board of Directors held today.
IndianOil posted a net profit of Rs.21,346 crore for the Financial Year 2017-18 as compared to a profit of Rs.19,106 crore in the last fiscal. The reported revenue from operations for the Financial Year 2017-18 was Rs.5,06,428 crore as compared to Rs.4,45,442 crore in 2016-17.
IndianOil's reported revenue from operations was Rs.1,36,733 crore in Q4 FY 17-18 as compared to Rs.1,30,865 crore and Rs.1,22,322 crore in the previous quarter of 2017-18 and corresponding quarter of 2016-17 respectively. Profit for the last quarter of 2017-18 is Rs.5,218 crore as compared to Rs.7,883 crore and Rs.3,721 crore in the previous quarter of 2017-18 and corresponding quarter of 2016-17 respectively.
The Board of Directors recommended a final dividend of 20% (Rs.2 per share). This is in addition to pre-bonus Interim Dividend of 190% (Rs.19 per share) paid during the year.
IndianOil Chairman, Mr. Sanjiv Singh, said, “IndianOil sold 88.763 MMT of products, including exports, during 2017-18. Our refining throughput for FY 2017-18 was 69.001 MMT and the throughput of the Corporation's countrywide pipelines network was 85.675 MMT during the same period. The gross refining margin (GRM) during the year 2017-18 was US$ 8.49 per bbl as compared to US$ 7.77 per bbl in 2016-17.”
For the last quarter of 2017-18, IndianOil's product sales volumes, including exports, was 22.559 MMT. The refining throughput was 17.152 MMT in Q4 FY 17-18 and the throughput of the Corporation's countrywide pipelines network was 22.562 MMT during the same period. The gross refining margin (GRM) for the last quarter of 2017-18 was US$ 9.12 per bbl as compared to US$ 8.95 per bbl in the corresponding quarter of 2016-17.