State-run Indian Oil Corporation (IOC) has reported a net profit of Rs 1,635 crore for the quarter ended December 2010 as against Rs 697 crore in same period the previous year.
Net sales jumped to Rs 75,463 crore from Rs 64,823 crore. The company has received subsidy of Rs 428 crore from government in third quarter of FY11 as against Rs 418 crore in same quarter of FY10.
There was a discount on crude products from ONGC, GAIL, OIL, CPCL of Rs 8,693 crore. Interest cost incurred at Rs 723 crore versus Rs 409 crore (YoY).
In a press conference, the management said, "Revenue loss in the quarter was at Rs 1,330 crore and gross refining margin at USD 6.33/barrel."
Refinery throughput stood at 13.32 mt and pipeline throughput at 17.08 mt.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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