IOC posts overall growth of 5.7 per cent sales during 2006-07

Mumbai, Apr 11 (UNI) Indian Oil Corporation (IOC) today announced that it has posted an overall growth of 5.7 per cent in sales during 2006-07 and plans to invest Rs 1800 crore in marketing operations in 2007-08.

Talking to mediapersons, the company's Director, Marketing, G C Daga said ''Around 49 million metric tonnes of petroleum products were sold, while 2.5 million metric tonnes were exported, leading to a total of 51.5 million metric tonnes of sales for 2006-07.'' Mr Daga attributed the rise in sales to factors like expansion of rural markets, strengthening of loyalty programs and consolidation of the entire brand portfolio of Xtrapremium, Xtramile, Servo, Indane and Xtrapower, among others.

During the year 2006-07, IndianOil invested Rs 1225 crore for various marketing related activities out of whicch Rs 534 crore was in retail, Rs 423 crore in LPG, Rs 24 crore in Aviation and Rs 183 crore in creation of additional tankage/infrastructure, Mr Daga said.

''The real challenge for a company of our size is to maintain growth and we continued to push the envelope in all the primary sectors like Aviation, Lubes, Retail, LPG and loyalty programmes.

During the year, over 1300 new retail outlets were commissioned of which 784 were Kisan Seva Kendras (KSKs) in rural markets.

Presently, we have a total of over 12,954 retail outlets of which about 1330 are KSKs. For the year 2007-08 the company proposes to commission 1600 new retail outlets of which the KSKs alone would be 1000,'' he added. The foray in the rural market has not only helped the company but it has brought petroleum products at the doorstep of the farmers, he said.

In Mauritius and Sri Lanka, IndianOil's subsidiaries, IndianOil Mauritius Limited (IOML) and Lanka IOC (LIOC) performed creditably during the year.

In IOML, it has an overall share of 16 per cent and a market share of 28 per cent in aviation. In LIOC, it has a market share of 20 per cent and operates over 150 retail outlets, Daga added.

He said LPG non-fuel business touched Rs 180 crore turnover in 2006-07.

UNI