Indianoil Q1 net profit jumps 56%

Indian Oil corporation Ltd has registered a jump in net profit by 56%as compared to Q1 for 2003.In Q1 2003 the net profit was 945 crore which was 1,472 crore in Q1 2004.

The sales turnover for Q1 or 2004 increase to 15.2% to Rs 35,577 crore from 30,874 for same quarter last year. Earning per share also increase from Rs 12.60 from Rs 8.09.

Another big achievement for Indianoil is that it got 189th position in fortune 500 list from 191. It could be compared from other companies in India which is:-

`` BPCL: 450
`` HPCL: 462
`` Relience: 482

Indian oil revenue is up by 12.5% since 2002 and profits at $1,631 million is up by 19.9%. Indian oil assets are estimated to be at $13,956.6 million