Indian USD $2848 million for the monetary

Indian Oil Corporation Limited is the
largest business enterprise in India, with a turnover of USD$ 65391million and net
profit of  USD $2848 million for the
monetary year 2016-17.

 

IndianOil’s business covers the entire
hydrocarbon generation chain including refining of crude oil, pipeline
transportation of crude oil & petroleum products, exploration of crude oil,
petrochemicals production and has also ventured into alternative energy. In
like manner, IndianOil has meandered into elective imperativeness and
globalization of downstream operations. With business tie-ups in Sri Lanka, Sweden,
Netherlands, USA, Mauritius and the UAE, IndianOil has created new business
openings. It has additionally around 18 joint ventures with business
accomplices from India and abroad to diversify its business interests. Recently,
Indian Oil has entered into agreements with Israel’s enterprises.  

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Indian Oil’s equity shares are recorded on
the Bombay Stock exchange and National Stock exchange of India. Starting at 23
August 2015, the Government of India held approx. 58.57% shares of Indian Oil.

 

Indian oil’s  change in operational and budgetary policy for
FY 2016-17 reflected in the market capitalization of the organization, whichl
led to an increase in the turnover , from Rs. 95,564 crore as on 31st March
2016 to Rs. 1,87,948 crore as on 31st March 2017. In perspective of its rising
offer cost and market capitalisation, Indian Oil was incorporated into the
Nifty50 stock index from 31st March 2017. Indian Oil is stands at
168th  among the world’s
biggest corporates (and first among Indian ventures) in the  Fortune ‘Worldwide 500’ posting for the year 2017.

The organization was deliberated with the
“Maharatna” status by the Government of India which gives upgraded
self-governance and bigger adaptability for its operation. The organization’s
Indane LPG mark earned the prime status of Superbrand. On the lines of KSK the
Rajiv Gandhi Grameen LPG Vitarak Yojana was propelled to infiltrate provincial
markets.

Indian Oil has entered into exploration and production
business by acquiring stakes in  ten
domestic and eight overseas blocks. The overseas blocks are in USA, Canada, Venezuela,
Libya, Gabon, Nigeria and Russia.