logo

IOC Q1 net profit rises to RS 6,831 cr

IOC Q1 net profit rises to RS 6,831 cr

New Delhi: Indian Oil Corporation (IndianOil) on Saturday reported its financial performance for the quarter ended June 30, 2018. The company has voluntarily adopted quarterly publishing of Consolidated Financial Statement starting from the first quarter of FY 2018-19.

IndianOil's Revenue from Operations was Rs 1,49,747 crore in Q1 FY 2018-19 as compared to Rs 1,28,183 crore in the corresponding quarter of FY 2017-18. Profit for the first quarter of FY 2018-19 is Rs 6,831 crore as compared to Rs 4,549 crore in the corresponding quarter of FY 2017-18.

The variation is majorly on account of higher inventory gains of Rs. 7,866 crore during the current quarter, which is partly compensated by lower refining margins and exchange losses.

IndianOil Chairman, Sanjiv Singh, said, "IndianOil sold 22.866 MMT of products, including exports, during Q1 2018-19. 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. The Gross Refining Margin (GRM) for the first quarter of 2018-19 was $10.21 per bbl as compared to $4.32 per bbl in the corresponding quarter of 2017-18."

The Company's Revenue from Operations for the quarter ended 30th June 2018 was Rs 1,49,747 crore as compared to Rs 1,26,396 crore adjusted for impact of GST in the corresponding quarter of financial year 2017-18 (Growth of 18.5%).

Refinery throughput of the Company for the quarter ended 30th June 2018 increased to 17.666 MMT as against 17.521 MMT in the corresponding quarter of financial year 2017-18, registering a growth of 0.8%.

Pipelines throughput of the Company for the quarter ended 30th June 2018 was 22.852 MMT as compared to 21.351 MMT in the corresponding quarter of the last year (Growth of 7.0%).

Domestic sales for the quarter ended 30th June 2018 has increased to 21.618 MMT as against 20.736 MMT in the corresponding quarter of the financial year 2017-18, registering a growth of 4.3%.

The Gross Refining Margin (GRM) of the Company for the quarter ended 30th June 2018 was $10.21/bbl as compared to $4.32/bbl in the corresponding quarter of the financial year 2017-18. Gross Refining Margin excluding inventory gains/ losses and price lag for the quarter was $5.18/bbl as compared to $6.44/bbl during the corresponding quarter of the previous year.

The finance cost for the quarter ended 30th June 2018 was Rs 1,031 crore as compared to Rs 739 crore in the corresponding quarter of the financial year 2017-18.

Highlights of unaudited financial results as compared to the corresponding quarter of the previous financial year are: Revenue from Operations increased by 16.8% to Rs ,49,747 crore. Profit After Tax is Rs 6,831 crores as against Rsa 4,549 crores in Q1 17-18. Earnings Per Share for the period April-June'18 is Rs 7.21. Refinery Throughput increased by 0.8% to 17.666 MMT. Pipelines throughput increased by 7.0% to 22.852 MMT

Domestic Sales increased by 4.3% to 21.618 MMT and Total Sales increased by 1.6% to 22.866 MMT.

Gross Refining Margin (GRM) for Q1 18-19 is $10.21/bbl as compared to $4.32/bbl in Q1 17-18. GRM excluding inventory gain/loss and price lag for Q1 18-19 is $ 5.18/bbl as compared to $ 6.44/bbl in Q1 17-18

IndianOil's borrowings as on 30.06.2018 were Rs 44,797 crore and the Debt-Equity ratio stands at 0.39:1.

CAPEX up to Q1 18-19 is Rs 5,852 crore against target of Rs 22,862 crore for FY 18-19. Claims for SKO (PDS) and DBTL (PAHAL) scheme for Q1 18-19 were Rs 1,136 crore and Rs 2,529 crore respectively.

Inventory Gains for the period Apr-June'18 were Rs 7,866 crore.

Revenue from Operations of the group for the period Apr-June'18 is Rs 1,51,814 crore.

Profit after Tax for the group is Rs 7,176 crores. Earnings per Share for the period April-June'18 is Rs 7.48.

MPost

MPost

Our Contributor help bring you the latest article around you


Exclusive

View All

Latest News

View All
Share it
Top