OREANDA-NEWS. IndianOil has reported a net loss of Rs. 3,093 crore on Income from Operations of Rs. 1,10,467 crore for the quarter ended June 2013. During the corresponding period in the previous year, the Corporation reported a net loss of Rs. 22,451 crore on Income from Operations of Rs. 96,861 crore. The reduction in net loss during the first quarter of the current year vis-a-vis the same quarter of the last year is mainly attributable to lower unmet under-recovery pegged at Rs. 1,212 crore against Rs. 17,485 crore in the same quarter of the last year.

Mr. RS Butola, Chairman, IndianOil, said, “IndianOil sold 19.841 million tonnes of products, including exports, during April-June 2013. Our refining throughput for Q1 2013-14 was 13.130 million tonnes and the throughput of the Corporation's countrywide pipelines network was 18.577 million tonnes during the same period. The GRM for the quarter was USD 4.23(1.67+2.56)/bbl as against USD (-) 2.25 (-4.81+2.56)/bbl in the corresponding previous quarter.”