Indian Oil Q3 results: Net profit jumps over two-and-half times to to 4,917 cr

Indian Oil Corporation Limited on Friday posted a more than two-fold rise in its profit for the December quarter, thanks to large inventory gains. The net profit rose to 4,916.59 crore for the quarter ended on 31 December. The state-run refiner reported ₹2,339.02 crore net profit for the corresponding quarter last year.

The revenue from the operations during the quarter rose to ₹1.47 lakh crore.

Indian Oil on Friday declared interim dividend of ₹7.50 rupees/share.

“For Q3 FY 2020-21, the product sales volume, including exports, was 23.033 million tonnes. Refining throughput was 17.860 million tonnes & pipeline throughput was 21.806 million tonnes,” the company said.