NEW DELHI: A freeze on petrol and diesel costs amid declining crude throughout the July-September interval helped Indian Oil, the nation’s largest oil refiner and gas retailer, bounce again into black with a good-looking revenue of Rs 12,967 crore within the third quarter in opposition to a lack of Rs 272 crore within the earlier corresponding interval. The board on Tuesday authorized an interim dividend of Rs 5 per share, or 50%, for the present fiscal.
The sharp turnaround was aided by a 14% drop in crude costs from the year-ago interval helped the state-run large cowl previous losses and make greater than half of its highest annual revenue of Rs 24,184 crore in 2021-22 in simply six months of the present fiscal.
IndianOil didn’t disclose the refining margin within the September quarter however stated it earned greater than $13 on every barrel of crude it processed per barrel within the six months to September in opposition to $25.4 per barrel within the first half of 2022-23.
The corporate not directly admitted to benefitting from the gas worth freeze when it stated the revenue was aided by larger advertising margins and decrease trade losses.
The sharp turnaround was aided by a 14% drop in crude costs from the year-ago interval helped the state-run large cowl previous losses and make greater than half of its highest annual revenue of Rs 24,184 crore in 2021-22 in simply six months of the present fiscal.
IndianOil didn’t disclose the refining margin within the September quarter however stated it earned greater than $13 on every barrel of crude it processed per barrel within the six months to September in opposition to $25.4 per barrel within the first half of 2022-23.
The corporate not directly admitted to benefitting from the gas worth freeze when it stated the revenue was aided by larger advertising margins and decrease trade losses.
