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IndianOil registers Rs. 2,091 crore profit in Q3

Source: www.gulfoilandgas.com 1/31/2008, Location: Asia

IndianOil has registered a net profit of Rs. 2,091 crore for the third quarter of the current financial year ended December 2007 as compared to a profit of Rs. 1,792 crore during the same quarter in the previous year. For the nine months ended December 2007, the corporationís net profit was Rs. 7,377 crore as against Rs. 5,997 crore net profit for the same period of the previous year, registering a growth of 23%.

The corporationís gross turnover for the third quarter moved up by 13%, to Rs. 64,726 crore from Rs. 57,365 crore. For nine months ended December 2007, the Corporationís gross turnover moved up by 7% to Rs.1,77,223 crore from Rs. 1,65,613 crore in the corresponding period of the previous year.

According to Mr. Sarthak Behuria, Chairman, IndianOil, the Net Under-Recovery on the four sensitive products, petrol, diesel, PDS kerosene and domestic LPG, for the three quarters of the current fiscal was Rs. 6,515 crore (after considering approval received from GOI for issuance of Special Oil Bonds of Rs. 5,099 crore for the quarter October-December 2007 in addition to Special Oil Bonds of Rs. 6,362 crore already received for half year April-September 2007) as compared to Rs.3,770 crore reported in the corresponding period of the previous year.

Mr. Behuria added that the corporation sold 46.02 million tonnes of products, including 2.59 million tonnes by way of exports during the nine months ending December 2007 as compared to 43.02 million tonnes (including exports) in the corresponding period of the previous year. The throughput of its refineries and pipelines network was 35.13 million tonnes and 42.26 million tonnes respectively for the same period as compared to 32.19 million tonnes and 37.85 million tonnes respectively in the corresponding period of the previous year.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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