Indian Oil Corporation Ltd. has approved investing up to Rs 2,448.70 crore for a natural gas pipeline project operating from Kochi to Thoothukudi, according to an exchange filing on Monday.
The 424.65-kilometre-long pipeline will pass through Kanyakumari and will have an overall capacity of 6.84 million standard cubic metres per day (MMSCMD), including a common carrier capacity of 1.71 MMSCMD, the filing outlined.
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The investment aims to cover costs related to laying, building, and operating the Kochi-Kanyakumari-Thoothukudi
Natural Gas Pipeline (KTPL).
IOCL Q1 FY27
Indian Oil Corporation (IOC) reported a consolidated net loss for the first quarter, but the performance was significantly better than the Street's worst-case expectations, aided by stronger-than-expected revenue and a positive operating profit.
The state-run oil marketing company posted a net loss of Rs 2,661 crore for the quarter, compared with Bloomberg estimates of a loss of Rs 20,295 crore. The company had reported a profit of Rs 11,378 crore in the preceding quarter.
Revenue from operations rose 26.2% sequentially to Rs 2.62 lakh crore, comfortably beating analysts' estimate of Rs 2.36 lakh crore. Revenue stood at Rs 2.08 lakh crore in the March quarter.
IOC reported an Ebitda of Rs 1,947 crore during the quarter, significantly outperforming expectations of an Ebitda loss of Rs 14,473 crore. However, operating profit declined sharply from Rs 20,716 crore reported in the previous quarter.
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