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IndianOil s Q1 consolidated net profit up 51% to Rs 7,175 cr (Lead)

Saturday - August 11, 2018 10:40 pm , Category : BUSINESS
 IndianOil s Q1 consolidated net profit up 51% to Rs 7,175 cr (Lead)
IndianOil s Q1 consolidated net profit up 51% to Rs 7,175 cr (Lead)
Mumbai Aug 11 (IANS) State-run Indian Oil Corporation (IndianOil) on Saturday posted a consolidated net profit of Rs 7 175.59 crore up 51 per cent year-on-year for the quarter ended June 30 2018.
The consolidated net profit for the corresponding quarter of the previous fiscal stood at Rs 4 736.15 crore the company said in a BSE filing.
The country s largest oil marketer registered a total income of Rs 1.52 lakh crore for the April-June quarter a hike of 15 per cent from Rs 1.32 lakh crore in the year-ago quarter.
"IndianOil sold 22.866 MMT (million metric tonnes) of products including exports during Q1 2018-19 " IndianOil Chairman Sanjiv Singh was quoted as saying in a statement.
"Our refining throughput for Q1 2018-19 was 17.666 MMT and the throughput of the corporation s countrywide pipelines network was 22.852 MMT during the same period."
According to the company its Gross Refining Margin (GRM) for the first quarter was $10.21 per bbl as compared to $4.32 per bbl in the corresponding quarter of 2017-18.
The company s standalone net profit for the quarter under review increased to Rs 6 831 crore as against Rs 4 549 crore reported for Q1 2017-18.
The company s standalone revenue from operations increased by 16.8 per cent to Rs 149 747 crore.

--IANS mgu-rv/ahm/

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