IndianOil has registered a profit of Rs. 1,635 crore for the third quarter of the current financial year ended December 2010 as compared to a profit of Rs. 697 crore for the same quarter of the previous year. The profit for the current quarter could be achieved mainly due to Government compensation of Rs. 4,442 crore for the third quarter of the current financial year.

The unaudited financial results of the Corporation were taken on record at the meeting of the Board of Directors here today. The Corporation?s Gross Turnover for the same period rose by 16.7% to Rs. 82,179 crore from Rs. 70,431 crore during the same period last year. For the nine-month period, IndianOil?s turnover went up by Rs. 35,679 crore while the profit went down by Rs. 1,124 crore. The profits for the period April-December 2010 were Rs. 3540 crore as compared to Rs. 4664 crore during the corresponding period of the previous financial year.

S V Narasimhan, Chairman, IndianOil, said, "IndianOil sold 18.422 million tonnes of products, including exports, during the third quarter of 2010-11. Our quarterly refining throughput was 13.319 million tonnes and the throughput of the Corporation?s countrywide pipelines network went up by 1.205 million tonnes to 17.080 million tonnes as compared to the corresponding quarter of the previous year."