IOC Q4 results: Net profit at Rs 8,781 crore

New Delhi: Indian Oil Corp has reported a record annual profit of ₹21,836 crore for 2020-21 despite the pandemic whose resurgence in the past two months is again hurting demand for its products and suppressing refinery runs.

The profit in the year 2019-20 was ₹1,313 crore. The profit for the fourth quarter was Rs 8,781 crore as against a loss of Rs 5,185 crore in the year-ago period. Revenue rose 18% during the fourth quarter while it declined 9% for the year mainly due to oil prices.