" --Indo-Asian New Service"
New Delhi, Aug 12 - The country's largest oil marketer Indian Oil Corp (IOC) Tuesday said it had come out of the red with a net profit of Rs.2,523 crore for the first quarter ended June on the back of lower interest costs and the benefit of exchange variations.

The state-run company had posted a net loss of Rs.3,093 crore in the corresponding quarter of the previous fiscal.

The increase in net profit during the first quarter of the current year vis-a-vis the same quarter of the last year is mainly attributable to exchange variations and lower interest cost, IOC said here in a release.

IOC's income from operations from the quarter in question was Rs.1,24,957 crore, as against Rs.1,10,467 crore in the quarter ended June 2013.

Commenting on the results, IOC chairman B. Ashok said: Indian Oil sold 19.772 million tonnes of products, including exports, during April-June 2014.

Our refining throughput for Q1 2014-15 was 12.866 million tonnes and the throughput of the Corporation's countrywide pipelines network was 18.890 million tonnes during the same period, he added.

IOC stock closed Tuesday at Rs.340.95 a share, 11.80 points, or 3.58 percent, higher than its previous close on the BSE.

--Indo-Asian New Service

bc/dg


comments powered by Disqus
Read more on:
 

PERMALINK

http://www.nerve.in/news:2535002395467
You can quote the permanent link above for a direct link to the story. We do not archive or expire our news stories.


STORY OPTIONS
  Email this story to a friend
  XML feed for India


 
COPYRIGHTS INFORMATION
All rights reserved for news content. Reproduction, storage or redistribution of Nerve content and articles in any medium is strictly prohibited.
Contact Nerve Staff for any feedback, corrections and omissions in news stories.
 

All rights reserved for the news content. Reproduction, storage or redistribution of Nerve content and articles in any medium is strictly prohibited.