IndianOil has reported a standalone net profit of Rs 4,837.7 crore for the March quarter, down 40 per cent as compared to Rs. 10,059 crores in the corresponding quarter of last year,

The company registered revenue of Rs 219,875.6 crore for the January-March period, down 1.4 per cent sequentially, according to a press release issued by the company.

IndianOil reported Revenue from Operations of Rs. 8, 66,345 crore for FY 2023-24 as compared to Rs. 9,34,953 crores in last year. The Net Profit for FY 2023-24 is Rs. 39,619 crores as compared to Rs. 8,242 crores during last year mainly on account of higher marketing margins as compared to last year.

IndianOil Chairman, S. M. Vaidya, said, “IndianOil sold 97.551 million tonnes of products, including exports, during FY 2023-24. Our refining throughput for FY 2023-24 was 73.308 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 98.626 million tonnes during the year. The gross refining margin (GRM) for FY 2023-24 was US$ 12.05 per bbl as compared to US$ 19.52 per bbl in the previous financial year.

For the fourth quarter of FY 2023-24, IndianOil's product sales volumes, including exports, was 25.279 million tonnes. The refining throughput was 18.282 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 24.593 million tonnes during the quarter.”