{"id":285545,"date":"2019-07-31T11:41:15","date_gmt":"2019-07-31T11:41:15","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=285545"},"modified":"2019-08-01T07:30:44","modified_gmt":"2019-08-01T07:30:44","slug":"ioc-net-drops-47-pc-on-lower-refinery-margins","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ioc-net-drops-47-pc-on-lower-refinery-margins\/","title":{"rendered":"IOC net drops 47 pc on lower refinery margins"},"content":{"rendered":"<p>State-owned Indian Oil Corp (IOC) on Wednesday reported a 47 per cent drop in its first quarter net profit after refinery margins slumped.<\/p>\n<p>IOC reported a consolidated net profit of Rs 3,737.50 crore, or Rs 4.07 per share in April-June quarter this year, as compared to a net profit of Rs 7,092.42 crore, or Rs 7.48 a share, a year ago, the company said in a regulatory filing.<\/p>\n<p>Revenue was almost flat at Rs 1.53 lakh crore in the first quarter of the 2019-20 fiscal year.<\/p>\n<p>The company earned USD 4.69 on turning every barrel of crude oil into fuel in April-June this financial year, down from USD 10.21 per barrel average gross refining margin in the corresponding quarter of the previous fiscal year.<\/p>\n<p>IOC said it had a foreign exchange gain of Rs 91.75 crore in April-June 2019, as compared to Rs 1,804.85 crore forex loss in the previous year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>State-owned Indian Oil Corp (IOC) on Wednesday reported a 47 per cent drop in its first quarter net profit after refinery margins slumped. IOC reported a consolidated net profit of Rs 3,737.50 crore, or Rs 4.07 per share in April-June quarter this year, as compared to a net profit of Rs 7,092.42 crore, or Rs 7.48 a share, a year ago, the company said in a regulatory filing. Revenue was almost flat at Rs 1.53 lakh crore in the first quarter of the 2019-20 fiscal year. The company earned USD 4.69 on turning every barrel of crude oil into fuel [&hellip;]<\/p>\n","protected":false},"author":40,"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-285545","post","type-post","status-publish","format-standard","hentry","category-oil-gas"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/285545","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=285545"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/285545\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=285545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=285545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=285545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}