Indian Oil (IOC) has reported revenue of Rs 155,056 crore for the first quarter of financial year 2021-22 as compared to Rs 88,939 crore in corresponding quarter of financial year 2020-21.
Indian Oil’s net profit for the quarter ended 30th June 2021 increased to Rs 5,941 crore as compared to Rs 1,911 crore mainly on account of inventory gains and better petrochemical margins during current period.
Indian Oil, the country’s largest public sector refiner, sold 20.325 million tons of products, including exports, during the first quarter of financial year 2021-22. Its refining throughput for Q1 2021-22 is 16.719 million tons and the throughput of the pipelines network is 19.875 million tons.
“The gross refining margin (GRM) during the first quarter of FY 2021-22 is $6.58 per bbl as compared to $(1.98) per bbl in corresponding quarter of previous financial year. The core GRM for current period after offsetting inventory loss/ gain comes to $2.24 per bbl,” Indian Oil Chairman SM Vaidya said in a statement.