Nayara Energy Sees 14% Rise in Domestic Fuel Sales, Exports Drop

Nayara Energy, India's largest private fuel retailer, posted a 14.3 per cent rise in fuel sales for the second quarter of the 2024 calendar year, while exports dropped as the firm met rising local demand for fuel. In the April-June quarter, Nayara sold 75 per cent of all diesel it produced at its Vadinar oil refinery in Gujarat in the local Indian market and 60 per cent of its petrol production locally, Nayara said. Over the past few years, Nayara Energy has steadily built its domestic business while expanding its fuel retailing network strategically to underserved markets that uphold the potential to fuel India's growth. Retail diesel sales rose 14 per cent to 2.08 million tonnes in April-June from 1.82 million tonnes a year back, while institutional business' year-on-year growth was 23 per cent, Nayara said. Similarly, retail petrol sales grew 14.7 per cent to 0.916 million tonnes in the second quarter compared to 0.809 million tonnes a year back. Nayara Energy owns the largest private retail network with over 6,500 petrol pumps across India. Its retail network is fully automated (99 per cent of petrol pumps) for enhanced controls and standards, enhancing mobility and connectivity within our nation. The firm said over the last few years, it has strategically expanded its network, with almost 35 per cent of its fuel stations situated in Tier 3, 4 and 5 towns, enabling mobility and spurring commerce. "Nayara Energy's positive sales momentum is the reflection of its growing presence through the strategic expansion of our fuel retail network," it said. After fulfilling domestic demand in India, surplus products were exported by Nayara Energy — about 1.36 million tonnes (28 per cent of total sales), including jet fuel, diesel and others, during April-June 2024. Given the robust demand in the Indian market, petrol export sales have decreased from 36 per cent of total petrol sales in April-June 2023 to 21 per cent in April-June 2024.