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Net profit of Iran’s Esfahan Oil Refining Company grows 12%

Business Materials 10 November 2019 12:35
Net profit of Iran’s Esfahan Oil Refining Company for the six months (March 21- September 22) of this Iranian year (began March 21, 2019) increased by 12 percent compared to the same period last year
Net profit of Iran’s Esfahan Oil Refining Company grows 12%

BAKU, Azerbaijan, Nov. 10

By Elnur Baghishov - Trend:

Net profit of Iran’s Esfahan Oil Refining Company for the six months (March 21- September 22) of this Iranian year (began March 21, 2019) increased by 12 percent compared to the same period last year, Trend reports referring to the company’s Public Relations Department.

The company’s net profit for the reporting period was $36.8 trillion rials (approximately $876 million).

This is while last Iranian year (March 21, 2018 - March 21, 2019), the company’s net profit was more than 50 trillion rials (about $1.2 billion).

The company has predicted that its net profit will reach 60 trillion rials (about $1.4 billion) this Iranian year (March 21, 2019 - March 21, 2020).

For the first six months of this Iranian year, total revenues of Esfahan Oil Refining Company were 437 trillion rials (about $10.4 billion). In the same period last Iranian year, the company’s revenues were 174 trillion rials (about $4.14 billion).

At the same time, operating expenses of the company increased by 146 percent in the six months of this Iranian year compared to the same period last Iranian year.

“The increase in crude oil, the additives and the devaluation are the reasons for this increase,” the report said.

Total revenues of the company

4 years ago (March 21, 2015 – March 21, 2016)

3 years ago (March 21, 2016 – March 21, 2017)

2 years ago (March 21, 2017 – March 21, 2018

Last year (March 21, 2018 – March 21, 2019)

Iranian rials

7.84 trillion rials (about $186 million)

18.9 trillion rials (about $451 million)

25.6 trillion rials (about $611 million)

55.5 trillion rials (about $1.3 billion)

Iran’s Esfahan Oil Refining Company reported that it ensures more than 20 percent of Iran’s needs in oil products. Liquefied gas, light jet fuel, gasoline, white oil, sulfur, diesel fuel, isorecycle, oil, light and heavy fuel oil and other products are manufactured by the company.

“In the first six months of this Iranian year, 416,000 cubic meters of liquefied gas were produced,” the report said. “However, this figure was 345,000 cubic meters in the same period last Iranian year.”

The report noted that 2.077 million cubic meters (about 733,000 tons) of gasoline were produced in the reporting period. However, this figure was 2.047 million cubic meters (about 722,000 tons) in the same period last Iranian year.

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