Indian Oil Corporation Limited on Tuesday reported a 49.96 per cent year-on-year fall in consolidated net profit at Rs 5,148.87 crore for the quarter that ended on March 31 in financial year 2023-24 (Q4FY24). The company had reported a net profit of Rs 10,289.82 crore during the same period last year (Q4FY23).
Sequentially, the net profit went down 42.97 per cent from Rs 9,029.56 crore in the last quarter.
The company’s revenue from operations dropped by 3.06 per cent to Rs 2,23,649.85 crore in Q4, compared to Rs 2,30,711.56 crore reported in the year before. On a quarter-on-quarter basis, the revenue for operations stood at Rs 2,26,892.08 crore.
