Indian Oil said its reported revenue from operations dropped 8.9 percent to Rs 5,14,890 crore for the fiscal year April 2020 – March 2021 as compared to Rs 5,66,354 crore in financial year 2019-20.
The net profit for the year ended 31st March 2021 is higher at Rs 21,836 crore as compared to Rs 1,313 crore during the previous year mainly on account of higher inventory gain and higher petrochemical margin during current year.
The revenue from operations of Indian Oil is Rs 1,63,606 crore in Q4 2020-21 as compared to Rs 1,39,005 crore in the same quarter of FY 2019-20. The net profit for the fourth quarter of FY 2020-21 is Rs 8,781 crore as compared to Rs (5,185) crore in the corresponding quarter of FY 2019-20 which is due to higher inventory gain and higher petrochemical margin during current quarter.
Indian Oil sold 81.027 million tonnes of products, including exports, during the year April – March 2021.
Indian Oil’s refining throughput for the FY 2020-21 was 62.351 million tons and the throughput of the corporation’s countrywide pipelines network was 76.019 million tons during the year. The gross refining margin (GRM) during the year April – March 2021 was US$ 5.64 per bbl as compared to US$ 0.08 per bbl in previous financial year.
For the fourth quarter of FY 2020-21, Indian Oil’s product sales volumes, including exports, was 22.591 million tons. The refining throughput was 17.592 million tons and the throughput of the Corporation’s countrywide pipelines network was 21.849 million tons during the same period.
The company also announced the board’s approval to expand the capacity of Guwahati refinery to 1.2 million tonne per annum (MTPA) from 1 MTPA.
IOC sold 81 MT of petroleum products in the fiscal, marking an annual drop of 9.7%, mainly due to the lockdown to contain the outspread of the coronavirus. IOC achieved highest ever petrochemical sales of 2.5 MT in FY21, up 20% annually. The petrochemicals segment reported a turnover of Rs 19,564 crore, 24% more than FY20.