IndianOil’s Gross Turnover up by 27.9% to Rs. 99,757 crore Still Posts Rs. 3,719 Crore decrease

Aug. 12, 2011 - PRLog -- Indian Oil Corporation Ltd. (IndianOil)’s Gross Turnover for first quarter of the present economic year completed June 2011 increased by 27.9% to Rs. 99,757 crore from Rs. 77,972 crore throughout the identical time span last year. The Corporation has dispatched a decrease of Rs. 3,719 crore for the first quarter of 2011-12 as in evaluation to a decrease of Rs. 3,388 crore for the identical quarter of the preceding year. The decrease is mostly on account of under-recovery on sale of regulated products.

The unaudited economic outcomes of the Corporation were taken on record at the gathering of the Board of Directors here today. The under-recovery on account of non-realisation of market-related charges for Diesel, PDS Kerosene and LPG (Domestic) for the quarter was Rs. 7,673 crore.

Mr. RS Butola, Chairman, IndianOil, said, “IndianOil traded 19.259 million tonnes of goods, encompassing trade items, throughout the first quarter of 2011-12. Our quarterly perfecting throughput was 14.306 million tonnes and the throughput of the Corporation’s countrywide pipelines mesh went up by 2.792 million tonnes to 19.281 million tonnes as in evaluation to the corresponding quarter of the preceding year. The whole perfecting margins throughout the first quarter were US$ 4.706.”

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IndianOil Corporation Ltd is India's largest commercial enterprise. The IndianOil Group of companies owns and operates 10 of India's 20 refineries.