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Q1 Result of IndianOil for FY20 Sees Sharp fall in profit

The Oil major reported Rs 3,596 crore Profit for the first quarter of FY20, a sharp 50% fall from Rs 6,831 crore that the oil PSU reported in the corresponding quarter of FY19
New Delhi: IndianOil has reported its standalone and consolidated financial performance for the quarter ended June 30, 2019, on Wednesday. In the standalone Q1 performance for the FY'20, the oil PSU's profit has witnessed a sharp fall of around 50%. Profit for the first quarter of FY 19-20 is Rs. 3,596 crore as compared to Rs. 6,831 crore in the corresponding quarter of FY 18-19. The company has said that the variation is majorly on account of lower inventory gain during the quarter. The Revenue from Operations of IndianOil is Rs. 1,50,135 crore in Q1 19-20 as compared to Rs. 1,49,747 crore in the corresponding quarter of FY 18-19. IndianOil Chairman, Sanjiv Singh, said, “IndianOil sold 22.658 million tonnes of products, including exports, during the first quarter of the financial year 2019-20. Our refining throughput for Q1 19-20 was 17.283 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 21.851 million tonnes during the year. The gross refining margin (GRM) during the first quarter of FY 19-20 was US$ 4.69 per barrel (bbl) as compared to US$ 10.21 per bbl in the corresponding quarter of the previous financial year.”
“IndianOil sold 22.658 million tonnes of products, including exports, during the first quarter of the financial year 2019-20. Our refining throughput for Q1 19-20 was 17.283 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 21.851 million tonnes during the year"- Sanjiv Singh, Chairman, IOCL
IndianOil's revenue from operation increased by 0.3% to Rs. 1,50,135 crore, while earnings per share for the period April-June’19 is Rs. 3.92. Oil major's domestic sales is 21.549 MMT and Total Sales is 22.658 MMT. Company's borrowings as on 30.06.2019 is Rs. 72,227 and the Debt-equity ratio stands at 0.64:1 The quarterly allocation of PDS Kerosene SKO (PDS) was Rs. 656 crore and for PAHAL-Direct Benefits Transfer for LPG(DBTL) Consumers Scheme was Rs. 3,997 crore.