- NEW DELHI — In a
significant feat for the Indian oil sector, state-run Indian Oil Corporation on
Saturday said its total sales volume, including exports, has crossed 100
million metric tonnes (MMT) for the first time ever.
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- In a post on X social media platform, the oil major said it
a historic milestone for them.
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- “Our total sales volume, including exports, has crossed 100
MMT for the first time ever — a solid 3 per cent growth. Driven by 1.6 per cent
rise in POL, 21 per cent in gas, and 6 per cent in petrochemicals, this marks a
new chapter of excellence,” said the company.
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- In its just-declared quarterly results, the oil giant’s net
profit more than doubled on quarter-on-quarter basis to INR 7,265 crore,
compared to INR 2,874 crore in Q3FY25.
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- The strong rebound was supported by improved refining
margins, inventory gains, and better operational efficiencies.
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- The oil giant’s Gross Refining Margins (GRMs) or the
difference between the total value of petroleum products coming out of a
refinery and the price of raw materials, stood at $8 per barrel. Indian Oil had
reported GRMs of $2.9 per barrel in the previous quarter.
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- EBITDA (earnings before interest, tax, depreciation and
amortisation) margin for the quarter stood at 7 per cent, higher than the 3.7
per cent registered in the third quarter, reflecting the oil major’s better
control over costs and better product mix.
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- EBITDA nearly doubled on a sequential basis, rising 90 per
cent QoQ to INR 13,572 crore from INR 7,117 crore in the previous quarter. This
translated into a robust improvement in operating profitability.
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