Auto companies’ decision to end production of deisel cars won’t impact the sales mix at Indian Oil Corporation (IOC) as maximum diesel is consumed by heavy vehicles. Also, sanctions on Iran and Venezuela and lower crude oil production from Nigeria and Libya will have an impact on global prices as wellas the company, says Sanjiv Singh, chairman, IOC in an interview with Swati Khandelwal.
Profit after tax (PAT) jumped over 15 times on sequential basis. What led to this?
On a yearly basis, we had a profit of around Rs 16,800 crore. On a quarter-on-quarter basis, there was a significant improvement predominantly because of higher inventory gain during the quarter.
Rupee appreciated in this quarter. Did it had any impact on the forex front?
Yearly, we lost close to Rs 1,800 crore towards the exchange. But in the fourth quarter, we had some advantage over the previous fourth quarter, which was also nullified. Read More
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