IndianOil posted the highest-ever net profit of Rs. 10,399 crores for 2015-16 as compared to Rs. 5,273 crores in the previous fiscal. Income from operations for 2015-16 was Rs. 3,50,603 crores (Rs. 4,37,524 crores), and, despite better physicals, the decrease is purely because of a fall in international prices.
IndianOil’s income from operations was Rs. 80,450 crores in Q4 FY16 as compared to Rs. 93,830 crores in the corresponding quarter of 2014-15 mainly because of a fall in international prices in the quarter. Profit for the last quarter of 2015-16 is at Rs. 1,236 crores as against to Rs. 6,285 crores in the corresponding quarter of 2014-15, mainly due to lower GRMs.
The Board of Directors recommended a final dividend of 85 per cent (Rs. 8.50 per share). This is in addition to the interim dividend of 55 per cent (Rs. 5.50 per share) paid during the year.
Addressing the annual press conference in New Delhi, the Chairman, Mr. B Ashok, said: “IndianOil sold 80.722 million tonnes of products, including exports, during 2015-16. Our refining throughput for FY 2015-16 was 56.694 million tonnes, and the throughput of the Corporation’s countrywide pipelines network was 79.824 million tonnes during the same period. The gross refining margin during 2015-16 was $5.06 per bbl as compared to $0.27 per bbl in 2014-15.”
For the last quarter of 2015-16, IndianOil’s product sales volume, including exports, was 21.573 million tonnes. The refining throughput was 15.019 million tonnes in Q4 FY16, and the throughput of the Corporation’s countrywide pipelines network was 20.395 million tonnes during the same period. The gross refining margin for the last quarter of 2015-16 was $3 per bbl as compared to $8.77 per bbl in the corresponding quarter of 2014-15.