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Indian Oil Corporation Limited (IOCL) has released its unaudited financial results for the quarter ending December 31, 2024. The Board of Directors approved these results in a meeting held on January 27, 2025.
Financial Highlights:
- Revenue from Operations: IOCL reported revenue of ₹1,95,149 crores for Q3 FY24-25, a decrease from ₹2,02,312 crores in the corresponding quarter of the previous financial year.
- Net Profit: The net profit for the quarter stood at ₹180 crores, a significant decline from ₹12,967 crores in Q3 FY23-24. This decrease is attributed to inventory losses and lower refining margins during the current quarter.
- Gross Refining Margin (GRM): The GRM for the period April – September 2024 was US$4.08 per barrel, compared to US$13.12 per barrel in the corresponding period of the previous financial year. iocl.com
Operational Performance:
- Product Sales: IOCL sold 48.213 million tonnes of products, including exports, during the period April – September 2024.
- Refining Throughput: The refining throughput was 34.906 million tonnes during the same period.
- Pipelines Throughput: The throughput of the corporation’s countrywide pipelines network was 48.213 million tonnes during this period.
The detailed financial results are available on IOCL’s official website and the stock exchanges, including BSE and NSE. Investors and stakeholders can access the report at IOCL’s website.
These results reflect the challenges faced by IOCL in the current economic environment, including reduced refining margins and inventory losses. The company continues to focus on strategic initiatives to navigate these challenges and enhance operational efficiency.
