New Delhi: Indian Oil reported a three-fold jump in the quarterly profit on inventory gains and higher petrochemical margins.
The profit climbed to Rs 5,941 crore in the April-June quarter from Rs 1,911 crore in the year-ago period. Revenue rose 74 per cent to Rs 155,056 crore.
The gross refining margin (GRM) jumped to $6.58 per barrel from a negative $1.98 per barrel a year earlier. The core GRM after offsetting inventory gains comes to $2.24 per barrel.
