This year, the big daddies amongst the PSUs have Delivered a sterling performance...

IIPM PUBLICATION

Without any doubt, the big daddies amongst the Indian PSUs have delivered a sterling performance this year. Indian Oil Corporation tops the list of these PSUs with the crown of being second most profitable company in India, nextonly to the Reliance Industries. The year 2006-07 seems to be a real good year for Indian Oil. The company recorded a jump of 20.53 % in its turnover touching the figure of Rs.2207.79 billion against Rs.1831.72 billion in the previous year. The profits of the company stood at Rs74.99 billion than last years’ profit of Rs.49.15 billion, reporting a hike of whopping 53%. IOC continued its major thrust on the downstream business and recorded sales of 54.8 million tones of petroleum products against 52 million tones last year. The refineries business of the company scored highest-ever throughput of 44 million tonnes with 98% capacity utilisation, 14% higher than last year. The pipeline businessof the company, too, recorded a throughput of 51.7 million tones, highest till date. Says Chairman Sarthak Behuria, “The success of the company can majorly be attributed to its mega projects being executed during last year. We went for capacity expansion at Panipat Refinery from 6 to 12 million metric tones per annum (MMTPA), a world scale PX/PTA (Paraxylene/Purified Terephthalic Acid) plant at Panipat for polyester intermediates, MS (petrol) quality up gradation project at Gujarat Refinery, and the Mundra- Panipat crude oil pipeline with onshore facilities at Mundra for handling heavy crude oil imports.”

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Source : IIPM Editorial, 2007

An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Rashmi Bansal Publisher of JAMMAG magazine caught red-handed, for details click on the following links.

• Hindustan Times Article - Publisher goes underground
• Rashmi Bansal (Editor of JAMMAG)
• Rashmi Bansal (Publisher of JAMMAG)