News Column

IndianOil reports net loss of Rs. 961 crore in Q3, 2013-14

February 17, 2014



ENP Newswire - 17 February 2014

Release date- 14022014 - IndianOil has reported a net loss of Rs. 961 crore on Income from Operations of Rs. 1,17,672 crore for the quarter ended 31.12.2013.

During the corresponding period in the previous year, the Corporation reported a net profit of Rs. 3,332 crore on Income from Operations of Rs. 1,16,700 crore. The decrease in profit is mainly on account of net under realization of Rs. 7,193 crore in current quarter as compared to over recovery of Rs. 408 crore received during Oct-Dec'12 for earlier quarters.

For the nine months ended December 2013, IndianOil has reported a net loss of Rs. 2,371 crore on Income from Operations of Rs. 3,38,343 crore as compared to a net loss of Rs. 9,508 crore on Income from Operations of Rs. 3,19,561 crore during the corresponding period in the previous year which is mainly due to lower unmet under recoveries in the current period on regulated products as compared to corresponding period of previous year.

Mr. R.S. Butola, Chairman, IndianOil, said, 'IndianOil's Product sales volumes including exports was 19.136 Million Tonnes during the third quarter of FY 2013-14. Our refining throughput was 13.075 Million Tonnes in third quarter of current fiscal. The throughput of the Corporation's countrywide pipelines network was 17.738 Million Tonnes during the current quarter.'

Product sales volumes including exports was 56.604 Million Tonnes during the first nine months of FY 2013-14. Indianoil's refining throughput was 39.549 Million Tonnes in first nine months of current fiscal. The throughput of the Corporation's countrywide pipelines network was 54.379 Million Tonnes during the period Apr-Dec'2013.

Contact:

Sidhartha Mukherjee

General Manager

Corporate Communications

Tel: 011-26260140

Email: sidhartha@indianoil.in


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: ENP Newswire


Story Tools