Indian Oil Corporation’s net profit trebled in the December quarter to Rs 2,339.02 crore as inventory gain offset lower refinery margins and forex losses.
The standalone net profit in the October-December period at Rs 2,339.02 crore was higher than Rs 716.82 crore in the same period a year ago, IOC chairman Sanjiv Singh said.
“The variation is majorly on account of inventory gain during the current quarter against inventory loss in the corresponding quarter of the previous financial year, partly offset by lower refining margins and exchange losses in the current quarter,” he said.
