Indian Oil Corp Ltd (IOC) reported a first-quarter profit on Friday, as the country’s top refiner benefited from higher fuel sales and marketing margins.
The state-owned company’s net profit was Rs 13,750 crore ($1.67 billion) for the quarter ended June 30, compared with a loss of Rs 1,993 crore, a year earlier.
IOC said its domestic product sales rose 1.4 per cent to 23.31 million metric tonnes (MMT), while exports fell 34.2 per cent to 1.10 MMT.
Revenue from operations fell 12.2 per cent to Rs 2.21 lakh crore.
