Indian Oil Corporation (IOC) is expecting to achieve a top-line of Rs 5,00,000 crore for the first time ever in FY15. The company’s borrowings have declined to Rs 61,900 crore against Rs 86,263 crore in March 2014. This will improve the bottom-line as well.
IOCL clocked a turnover touched of Rs 4,57,553 crore in 2013-14, a jump of 10.3% over the previous year. Its net profit surged to Rs 7,019 crore, up 40.2% compared to 2012-13. Meanwhile, turnover during the first quarter of this fiscal stood at Rs 1,24,956 crore.
IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.