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Business EconomyPosted at: Oct 30 2020 9:17PM


Indian Oil reports revenue from Operations of Rs 2,04,686 cr for H1 FY 2020-21 as compared to Rs 2,82,514 cr in corresponding period

Kolkata, Oct 30 (UNI) Indian Oil has reported revenue from Operations of Rs 2,04,686 crores for the first half of Financial Year 2020-21 as compared to Rs 2,82,514 crores in corresponding period of Financial Year 2019-20.
The Net Profit for the six months ended 30th September 2020 is higher at Rs 8,138 crores as compared to Rs 4,160 crores during the corresponding period mainly on account of higher inventory gain and exchange gains during current period.
The Revenue from Operations of Indian Oil is Rs 1,15,749 crores in Q2 2020-21 as compared to Rs1,32,377 crores in the corresponding quarter of FY 2019-20.
The Net Profit for the second quarter of FY 2020-21 is Rs6,227 crores as compared to Rs563 crores in the corresponding quarter of FY 2019-20 which is due to higher inventory gain and exchange gains during current quarter against inventory losses in corresponding quarter of last year.
Indian Oil Chairman S. M. Vaidya, said, “IndianOil sold 35.403 million tonnes of products, including exports, during the first six months of financial year 2020-21. Our refining throughput for first six months of FY 2020-21 was 26.899 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 32.364 million tonnes during the year."
"The gross refining margin (GRM) during the first half of year 2020-21 was US$ 3.46 per bbl as compared to US$ 2.96 per bbl in corresponding period of previous financial year."
"For the second quarter of FY 2020-21, IndianOil's product sales volumes, including exports, was 18.899 million tonnes. The refining throughput was 13.969 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 17.347 million tonnes during the same period.”
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