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IOC posts Q2 net profit of `180 cr

New Delhi: Indian Oil Corporation (IOC) reported Revenue from Operations of Rs 4,11,138 crore for the period April – September 2024 as compared to Rs 4,23,457 crores in corresponding period of previous financial year.

The Net Profit for the six months ended September 30, 2024 is Rs 2,823 crore as compared to Rs 26,718 crore during the corresponding period mainly on inventory losses, reduced refining margins affected by lower cracks in line with the international trends and suppressed marketing margins during current period.

The Revenue from Operations of IndianOil is Rs 1,95,149 crore in Q2 FY25 against Rs 2,02,312 crore in the corresponding quarter of previous financial year.

The Net Profit in Q2 FY25 is Rs 180 crore against Rs 12,967 crore in the corresponding quarter of FY24 due to inventory losses and lower refining margins during current quarter.

IndianOil sold 48.213 million tonnes of products, including exports, during the period April – September 2024.

The company’s refining throughput was 34.906 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 48.213 million tonnes during the period.

The gross refining margin (GRM) during the period April – September 2024 was $ 4.08 per bbl as compared to $ 13.12 per bbl in corresponding period of previous financial year. For Q2 FY25, IndianOil’s product sales volumes, including exports, was 22.961 million tonnes.

The refining throughput was 16.738 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 23.985 million tonnes during the

quarter.

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