IndianOil Board Members announcing the financial results for QR, FY 2019-20
IndianOil reported Revenue from Operations of Rs. 4,27,331 crores for the first nine months of Financial Year 19-20 as compared to Rs. 4,61,451 crores in corresponding period of Financial Year 18-19. The Net Profit for the nine months ended 31st December 2019 is lower at Rs. 6,499 crores as compared to Rs. 10,795 crores during the corresponding period mainly on account of lower refining margins during current period.
Chairman IndianOil, Mr. Sanjiv Singh addressing the media
The Revenue from Operations of IndianOil is Rs. 1,44,820 crores in Q3 19-20 as compared to Rs. 1,60,138 crores in the corresponding quarter of FY 18-19. Profit for the third quarter of FY 19-20 is Rs. 2,339 crores as compared to Rs. 717 crores in the corresponding quarter of FY 18-19. The variation is majorly on account of inventory gain during current quarter against inventory loss during corresponding quarter of previous financial year partly offset by lower refining margins and exchange losses during current quarter.
IndianOil Chairman, Mr. Sanjiv Singh, said, "IndianOil sold 67.490 million tonnes of products, including exports, during the first nine months of financial year 2019-20. Our refining throughput for first nine months of FY 19-20 was 52.316 million tonnes and the throughput of the Corporation's countrywide pipelines network was 64.562 million tonnes during the year. The gross refining margin (GRM) during the first nine months of year 19-20 was US$ 3.34 per bbl as compared to US$ 5.83 per bbl in corresponding period of previous financial year."
For the third quarter of FY 19-20, IndianOil's product sales volumes, including exports, was 23.409 million tonnes. The refining throughput was 17.496 million tonnes in Q3 19-20 and the throughput of the Corporation's countrywide pipelines network was 20.962 million tonnes during the same period.
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