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News Brief | March 2012

Indian Oil may spend Rs 7,700 crore for pipeline expansion

Indian Oil Corporation (IOC) plans to invest Rs 7,700 crore by 2015 to expand its pipeline network, which has emerged as a highly profitable business and which generated revenues of Rs 4,200 crore in the previous fiscal year with a net profit of Rs 3,000 crore.

Meanwhile, the company has also posted a net profit of Rs 24,884.40 million (unaudited) for the quarter ended 31 December 2011 as compared to Rs 16,347.60 million for the quarter ended 31 December 2010.

Contact: Indian Oil Corporation (IOCL)
Tel: + 91 11 2626 0000
Web: www.iocl.com
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