*Indian Oil Corporation (IOC) * announced a substantial rise in standalone net profit for the quarter ended December 2008, due to better sales volume and high operating margin.
During the quarter, the profit of the company rose 41.51% to Rs 29,585.90 million from Rs 20,906.90 million in the same quarter last year. Net sales for the quarter rose 19.63% to Rs 705,340.60 million, while total income for the quarter rose 10.62% to Rs 723,517.50 million, when compared with the prior year period. The company posted earnings of Rs 24.81 a share during the quarter, registering 41.53% growth over previous year period. *Quarterly Results - Standalone (Rs in mn)* *As at* *Dec - 08* *Dec - 07* *%Change* *Net Sales* 705,340.60 589,600.50 19.63 *Net Profit* 29,585.90 20,906.90 41.51 *Basic EPS* 24.81 17.53 41.53 During the quarter, the operating margin of the company increased to 4.80% compared with negative of 3.61% in the previous year period. Interest cost increased 3.88 times to Rs 15,054 million while depreciation cost rose 9.19% to Rs 7,275.30 million over previous year period. *Average gross refining margins* for the period April-December 2008 was USD 3.37 a barrel (April- December 2007: USD 9.10 a barrel). Refining margins during the current period is lower mainly due to fall in the international crude oil prices resulting in inventory losses. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
