BY A STAFF REPORTER
• The company's revenue from operations increased 90.82% to Rs 1,15502.51 crore in Q1 FY22 as against Rs 60531.11 crore posted in Q1 FY21.
• The PSU company's profit before tax soared 150.6% to Rs 8030.15 crore in Q1 FY22 from Rs 2613.12 crore in Q1 FY21.
• The PSU company reported a net profit of Rs 6109.69 crore for the year quarter June 21, steeply higher than net profit of
Rs 2226.80 crore in the quarter June 20 but was lower by 32.3 % compared to Rs. 9026.49 crore in March 21.
• The company said its average gross refining margin (GRM) for the period April-June 2021 zoomed to $6.58 per barrel as against negative $1.98 per barrel for the same period of the previous year. The core GRM or the current price GRM for the period April- June 2021 after offsetting inventory loss/ gain stood at $2.24 per bbl.
• Due to outbreak of COVID-19 pandemic and consequent national lockdown, the operations of the company during April- June 2020 were considerably affected. However, the company assured that the impact has significantly reduced as is evident from the physical performance during April- June 2021.
• Indian Oil Corporation's (IOC's) segments include sale of petroleum products, sale of petrochemicals and other
businesses. As of 30 June 2021, the Government of India held a 51.50% stake in IOCL.
Source : Eureka
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