New Delhi: Indian Oil Corporation Limited (IOCL) market shares climbed 43% in the fiscal year ended March 31 during which all its divisions posted stellar performance.

IOCL added almost 1,800 petrol pumps, clocked highest ever throughput at its refineries, posted a 14% jump in fuel sales and registered the highest-ever pipeline expansion during 2022-23 (April 2022 to March 2023), the firm said in a statement.

IOCL Chairman SM Vaidya said the company’s refineries clocked the highest-ever throughput of over 72.4 million tonnes in 2022-23, compared with 67.67 million tonnes in the previous fiscal year. Its liquid pipelines throughput jumped from about 83.25 million tonnes in 2021-22 to the highest ever 94.7 million tonnes. IOCL also registered the highest-ever pipeline expansion of about 2,450km during the year.

“Despite challenging geopolitical situations, what stood out was our teams' perseverance and the determination to rise above every challenge thrown at us. Our unwavering commitment to excellence has paid off, and IndianOil continued to shine bright on the operational front,” Vaidya said.

On the Marketing front, IndianOil has achieved a POL Sales growth of about 14% year-on-year. Its petroleum products market share increased from 40.8 % in 2021-22 to 42.9% in 2022-23.

“The petrol sales have grown by over 19.2%, our diesel sales have increased by nearly 19.3 %, and our LPG sales have risen by about 1%,” Vaidya said.

The company invested Rs 34,388 crore in its own projects and Rs 817 crore in joint ventures and subsidiaries in FY23.

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