IOC Q2 net profit soars 10-fold to ₹6,227 cr
New Delhi: India’s top oil firm Indian Oil Corporation (IOC) on Friday reported a 10-fold jump in its September quarter on the back of inventory gains and better margins.
The company reported a standalone net profit of ₹6,227.31 crore, or ₹6.78 per share, in the July-September quarter, as compared to ₹563.42 crore net profit in the same period a year back, IOC said in a stock exchange filing.
Fuel sales at 17.7 million tonnes was 16 per cent higher than the preceding quarter but was 12 per cent lower than 20.17 million tonnes of products sold in July-September 2019.
