Total turnover, however, was higher at Rs 2,418.77 crore compared to Rs 1,354.34 crore. The operating profit stood at Rs 493.01 crore (Rs 554.16 crore).

A press release issued by the company states that with market-determined pricing, the low differential between international crude and product prices have adversely affected profitability. Further, the low iport duty differentials between crude and finished products which being low have hit profitability.