OREANDA-NEWS. Indian Oil Corporation has registered a profit of Rs.3332 crore for the third quarter of the financial year 2012-13 as compared to a profit of Rs. 2488 crore for the corresponding quarter of the previous financial year; mainly due to release of Government assistance to the tune of Rs.13475 crore partly compensating under recoveries on sale of three sensitive products i.e. Diesel, PDS Kerosene and LPG (Domestic).

The unaudited financial results of the Corporation were taken on record at the meeting of the Board of Directors here today. Indian Oil’s turnover for the third quarter of the current financial year rose by 12% to Rs.107686 crore from Rs.96006 crore during the corresponding quarter last year.

The Corporation has posted a loss of Rs.9508 crore for the first nine months of FY 2012-13 as compared to a loss of Rs.8716 crore for the same period of the previous year mainly on account of unmet under recoveries on account of non realization of market related prices for Diesel, PDS Kerosene and LPG (Domestic), which still stands at Rs.13227 crore for the period April-December 2012.

Mr. R.S. Butola, Chairman, IndianOil, said, “IndianOil’s product sales volumes including exports rose by 0.419 Million Tonnes to 19.706 Million Tonnes during the third quarter of FY 2012-13 as compared to the corresponding quarter of the previous financial year. The quarterly refining throughput went up marginally by 0.042 Million Tonnes to 14.208 Million Tonnes as compared to the corresponding quarter of the previous financial year. The throughput of the Corporation’s countrywide pipelines network went up by 1.111 Million Tonnes to 19.471 Million Tonnes as compared to the corresponding quarter of the previous year.”