In the three months ended June, the revenue increased 1% to 218,608 crore.
“Net profit improvement is mainly due to the closure of high refining and marketing margins by the loss of inventory,” said a state -run refiner and retailer.
Referring to the intense impact of inventory in quarterly earnings, Chairman Sahini said that during the quarter of Indian oil, Rs. The inventory of Rs 4565 crore was lost.
The company’s gross refining margin (GRM) for the quarter is 1 2.15 per barrel compared to $ 6.39 per barrel in the year-by-year period. (Check this again) After removing the effect of inventory loss and gain, the margin will be $ 6.91 a year ago compared to 84 2.84.
Other domestic fuel retailers such as Indian oil and BPCL and HPCL are enjoying strong marketing margins on retail and diesel retail as they continue to keep the pump prices steady despite the decline in international fuel rates.
One year ago, Indian oil was re -recovery of Rs 3,858 crore on the sale of cooking gas during the quarter. The government has decided to pay Rs 30,000 crore for LPG under-reps to oil marketing companies, but these methods are still pending.
The highest quarterly sales volume of 26.32 million metric tons (MMTs) in Indian oil is compared to 25.25 MMT in the year ago. The company’s domestic petroleum sales have increased by 2.5% against the industry’s 9.9%. Organizational diesel sales increased 40.3% compared to the industry’s 14.8%. The average capacity of its refineries was 107% during the quarter.
Shares worth around 198,000 crore in Indian oils were down 1.58% on Thursday. It ended at 140.15 while the benchmark BSE Sensex closed almost unchanged.
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