{"id":188212,"date":"2018-11-02T11:38:34","date_gmt":"2018-11-02T11:38:34","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=188212"},"modified":"2018-11-02T11:38:34","modified_gmt":"2018-11-02T11:38:34","slug":"indian-oil-second-quarter-profit-drops-on-higher-forex-raw-material-costs","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/indian-oil-second-quarter-profit-drops-on-higher-forex-raw-material-costs\/","title":{"rendered":"Indian Oil second-quarter profit drops on higher forex, raw material costs"},"content":{"rendered":"<p>State-run refiner Indian Oil Corp Ltd posted a 12.2 percent fall in second-quarter profit on Friday, missing estimate by a wide margin, dented by forex expenses and raw material costs. <\/p>\n<p>Net profit came in at 32.47 billion rupees ($446.92 million) in the quarter ended Sept. 30, compared with 36.96 billion rupees a year earlier, IOC said https:\/\/bit.ly\/2JytukW.  <\/p>\n<p>Analysts on average had expected a profit of 50.88 billion rupees, according to Refinitiv data. <\/p>\n<p>Average gross refining margin for the April-Sept period &#8211; the difference between the cost of crude oil processed and the prices of refined products &#8211; dropped to $8.45 per barrel from $6.08 per barrel a year earlier.<\/p>\n<p>Revenue from operations rose nearly 37 percent to 1.52 trillion rupees.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>State-run refiner Indian Oil Corp Ltd posted a 12.2 percent fall in second-quarter profit on Friday, missing estimate by a wide margin, dented by forex expenses and raw material costs. Net profit came in at 32.47 billion rupees ($446.92 million) in the quarter ended Sept. 30, compared with 36.96 billion rupees a year earlier, IOC said https:\/\/bit.ly\/2JytukW. Analysts on average had expected a profit of 50.88 billion rupees, according to Refinitiv data. Average gross refining margin for the April-Sept period &#8211; the difference between the cost of crude oil processed and the prices of refined products &#8211; dropped to $8.45 [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[133],"tags":[],"class_list":["post-188212","post","type-post","status-publish","format-standard","hentry","category-oil-gas"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/188212","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=188212"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/188212\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=188212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=188212"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=188212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}