Indian Oil’s Web Revenue Crosses Rs 2,873 Crore In Oct-Dec Quarter | Financial system Information

New Delhi: Indian Oil Company (IOC) on Monday introduced a internet revenue of Rs 2,873.53 crore for the October-December quarter of the present monetary yr, which represents a pointy restoration from the mere Rs 180 crore internet revenue recorded by the corporate within the previous quarter. 

The bounce in firm’s revenues through the third quarter had been pushed by increased gross sales volumes. The oil advertising and marketing firm’s home gross sales grew 13 per cent yr on yr to 24.78 million metric tonnes within the third quarter, whereas exports jumped up 31 per cent to 1.345 million metric tonnes.

Nonetheless, year-on yr, the web revenue of the corporate for the third quarter mirrored a decline of almost 64 per cent — from the Rs 8,063.39 crore internet revenue reported within the corresponding quarter of earlier monetary yr.

Indian Oil Company’s common gross refining margin (GRM) for the interval between April and December stood at $3.69 per barrel, dropping sharply from the corresponding determine of $13.26 per barrel reported in the identical quarter of the earlier monetary yr.

The corporate’s income from operations fell almost 3 per cent year-on-year to Rs 2.17 lakh crore in Q3 FY25. The income from operations stood at Rs 2.23 lakh crore in Q3 of FY24. Its complete bills in the meantime rose marginally to Rs 2.16 lakh crore. Earnings per share (EPS) stood at Rs 2.09 through the quarter, in accordance with its financials.

The corporate’s internet revenue had slumped through the second quarter attributable to stock losses and decrease refining margins throughout present quarter. Indian Oil’s income from operations was Rs 4,11,138 crores for the April–September 2024, as in comparison with Rs 4,23,457 crores in corresponding interval of earlier monetary yr.

IndianOil bought 48.213 million tonnes of merchandise, together with exports, through the April–September 2024 interval. “Our refining throughput was 34.906 million tonnes and the throughput of the Company’s countrywide pipelines community was 48.213 million tonnes through the interval,” it stated.