Net profit jumped 134.7 per cent in the October-December quarter from Rs 696.59 crore in the same period a year ago, IOC Chairman S V Narasimhan said.
IOC’s turnover rose 16.7 per cent to Rs 82,179 crore in Q3 from Rs 70,431 crore during the same period last year.
IOC earned $6.33 on turning every barrel of crude oil into petroleum products in the quarter as against a gross refining margin (GRM) of $3.64 per barrel a year ago.
Narasimhan said IOC sold 18.422 million tonnes of products, including exports, during the third quarter of 2010-11. “Our quarterly refining throughput was 13.319 million tonnes and the throughput of the company’s countrywide pipelines network went up by 1.205 million tonnes to 17.080 million tonnes,” he said.
Published 10 February 2011, 15:10 IST