Indian Oil Corporation Ltd. has registered a profit of Rs. 9,611 crores for the second quarter of 2012-13 as compared to a loss of Rs. 7,486 crores for the corresponding quarter of the previous financial year; mainly due to release of Government assistance to the tune of Rs. 16,094 crores towards under-recoveries on sale of diesel, PDS kerosene and LPG (domestic).
IndianOil’s turnover for the second quarter rose by 10 per cent to Rs. 94,680 crores from Rs. 86,101 crores in the corresponding quarter last year.
For the half year ended September 2012, the gross turnover rose by 11.2 per cent to Rs. 196,616 crores from Rs. 176,815 crores during the corresponding period of the previous year.
Mr. R.S. Butola, Chairman, said: “IndianOil’s product sales volumes, including exports, rose by 0.152 million tonnes to 17.845 million tonnes during the second quarter of FY 2012-13 as compared to the corresponding quarter of the previous financial year. Our quarterly refining throughput went up marginally by 0.072 million tonnes to 13.118 million tonnes as compared to the corresponding quarter of the previous financial year. The throughput of the Corporation’s countrywide pipelines network went up by 0.322 million tonnes to 18.440 million tonnes.”