Moneycontrol PRO

Indian Oil Corp quarterly profit jumps three-fold

The state-owned company had reported a net profit of 59.41 billion rupees ($798.92 million) in the quarter ending June 30 compared with 19.11 billion rupees a year ago.

July 30, 2021 / 03:43 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Indian Oil Corp Ltd (IOC), the country's top refiner, on Friday reported a three-fold rise in net profit in the June quarter, helped by higher gross refining margins as prices of oil products surged.

The state-owned company had reported a net profit of 59.41 billion rupees ($798.92 million) in the quarter ending June 30 compared with 19.11 billion rupees a year ago.

The company recorded gross refining margins — profit from converting a barrel of oil into refined products — of $6.58 per barrel in the three months to June compared with minus $1.98 per barrel a year earlier.
Reuters
first published: Jul 30, 2021 03:35 pm
Sections
ISO 27001 - BSI Assurance Mark