IndianOil’s (IOC’s) gross revenues for the same period increased by 38.7% to INR807.35 billion from INR582.05 billion. The company’s unaudited financial results were taken on record at its board of directors meeting.
According to IOC chairman, Sarthak Behuria, the under-recovery on account of non-realization of market-related prices for petrol, diesel, kerosene and domestic-use liquefied petroleum gas for the quarter was INR73.2 billion, after considering the Indian government’s special oil bonds of INR135.27 billion.
Mr Behuria said that IOC sold 16.99 million tonnes of products, including exports, during the first quarter of 2008-09. Its seven refineries registered a combined throughput of 12.55 million tonnes, with a capacity utilization of 106%.
IOC’s pipeline network too registered over 100% capacity utilization with a throughput of 15.11 million tonnes for the same period.
