IndianOil has posted Q3 2023-24 net profit at Rs. 8,063 crores as compared to Net Profit of Rs. 448 crores in the corresponding quarter of FY 2022-23.

The Revenue from Operations of IndianOil is Rs. 2, 23,012 crores in Q3 2023-24 as compared to Rs. 2, 28,168 crores in the corresponding quarter of previous financial year.

The company reported Revenue from Operations of Rs. 6, 46,470 crores for the period April – December 2023 as compared to Rs. 7, 08,461 crores in corresponding period of previous financial year. The Net Profit for the nine months ended 31st December 2023 is Rs. 34,781 crores as compared to Net Loss of Rs. 1,817 crores during the corresponding period mainly on account of higher marketing margin and lower exchange losses during the current period.

IndianOil Chairman S. M. Vaidya, said, “IndianOil sold 72.272 million tonnes of products, including exports, during the period April – December 2023. Our refining throughput for the first nine months of FY 2023-24 was 55.026 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 74.033 million tonnes during the period. The gross refining margin (GRM) during the period April – December 2023 was US$ 13.26 per bbl as compared to US$ 21.08 per bbl in the corresponding period of previous financial year.

For the third quarter of FY 2023-24, IndianOil's product sales volumes, including exports, was 24.621 million tonnes. The refining throughput was 18.502 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 25.212 million tonnes during the quarter.”