New Delhi, Aug. 31 -- IndianOil's profitability remained under pressure in the first quarter of the current financial year as higher crude oil costs arising from the West Asia conflict weighed on earnings, Chairman A S Sahney said on Monday.

Addressing the company's 67th Annual General Meeting, Sahney said IndianOil's strong operating performance continued to provide confidence in the company's resilience.

"While profitability during the quarter remained under pressure from higher crude costs arising from the West Asia conflict, the strength of our operating performance gives us confidence in the underlying resilience of your Company," Sahney said.

Despite disruptions in global energy markets, IndianOil's refineries processed a record ...