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Indian Oil Posts Record Q1 Crude, Pipeline Throughput; Motor Spirit, Diesel Sales Hit Highs

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Indian Oil reported fiscal Q1 earnings Friday, recording its highest-ever Q1 crude throughput of 19.17 million metric tons, compared with 18.68 mmt for the same quarter last year.

The company recorded its highest-ever pipeline throughput of 28.55 mmt for the quarter ended June 30, compared with 26.27 mmt a year earlier.

Total sales volume edged down to 26.21 mmt for the quarter, compared with 26.39 mmt in the same period last year.

Domestic product sales increased to 25.25 mmt for the quarter, up from 24.97 mmt for the same quarter last year.

Exports, however, declined to 959,000 mt for Q1, compared with 1.36 mmt for the year-ago quarter.

The company recorded its highest-ever quarterly motor spirit sales of 4.52 mmt, while high-speed diesel sales reached a record 10.87 mmt during the quarter.

Natural gas sales volume rose 11% over the year to 1.87 mmt in Q1 from 1.69 mmt a year earlier, according to the company.

The company said it increased its domestic market share to 43.1% in Q1 from 41.5% a year earlier, strengthening its position in India's fuel retail market.

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