IndianOil reported Revenue from Operations of Rs. 2,21,145 crore for the first quarter of Financial Year 2023-24 as compared to Rs. 2,51,929 crore in corresponding quarter of previous financial year. The Net Profit for the quarter ended 30th June 2023 is Rs. 13,750 crore as compared to net loss of Rs. 1,993 crore during the corresponding quarter of previous financial year mainly on account of higher marketing margins during current quarter.

IndianOil Chairman, S.M. Vaidya, said, “IndianOil sold 24.407 Million Metric Tonnes of products, including exports, during the first quarter of financial year 2023-24. Our refining throughput for Q1 2023-24 is 18.752 Million Metric Tonnes and the throughput of the Corporation’s countrywide pipelines network including gas pipelines is 24.951 Million Metric Tonnes during the same period. The gross refining margin (GRM) during the first quarter of FY 2023-24 is $8.34 per bbl as compared to $31.81 per bbl in corresponding quarter of previous financial year. The core GRM for current quarter after offsetting inventory loss/ gain comes to $9.05 per bbl.”