IndianOil's Q2 standalone net profit down 12%

Oil marketing major IndianOil on Friday reported a decline of 12.14 per cent in its standalone net profit for the second quarter of 2018-19.

According to the company, the net profit declined to Rs 3,247 crore as compared to Rs 3,696 crore reported for the corresponding quarter of 2017-18.

"IndianOil sold 44.462 million tonnes of products, including exports, during the first six months of 2018-19," Sanjiv Singh, Chairman, IndianOil, was quoted as saying in a statement.

"Our refining throughput for H1 18-19 was 35.483 million tonne and the throughput of the corporation's countrywide pipelines network was 44.217 million tonne during the same period. The gross refining margin (GRM) during the period April-September 2018 was $8.45 per bbl as compared to $6.08 per bbl in corresponding period of FY 17-18."

Further, the company reported that in the second quarter of FY 18-19 its product sales volumes, including exports, was 21.596 million tonne.

"The refining throughput was 17.817 million tonne in Q2 FY 18-19 and the throughput of the corporation's countrywide pipelines network was 21.365 million tonne during the same period," the statement said.

"The gross refining margin (GRM) for the second quarter of FY 18-19 was $6.79 per bbl as compared to $7.98 per bbl in the corresponding quarter of FY 17-18."

--IANS

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