NEW DELHI: Flagship oil refiner and retailer Indian Oil Corporation (IOC) on Monday posted a net profit of Rs 5,861 crore in the third quarter, marking an increase of 19% over Rs 4,917 crore in the corresponding period last year.
The higher profit flowed from inventory gains and increased refining margins offsetting a drop in marketing margin, a company statement quoted chairman S M Vaidya, without giving any details.
The company has frozen pump prices since November 4 last year in spite of the spike in crude costs.
Sequentially, however, the December quarter figure was lower than Rs 6,360 crore profit posted in the preceding July-September period.
