{"id":298963,"date":"2019-11-01T11:09:07","date_gmt":"2019-11-01T05:39:07","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=298963"},"modified":"2019-11-01T11:09:07","modified_gmt":"2019-11-01T05:39:07","slug":"indian-oil-corp-q2-net-drops-83-on-lower-refinery-margins-inventory-losses","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/indian-oil-corp-q2-net-drops-83-on-lower-refinery-margins-inventory-losses\/","title":{"rendered":"Indian Oil Corp Q2 net drops 83% on lower refinery margins, inventory losses"},"content":{"rendered":"<p>NEW DELHI : State-owned Indian Oil Corp (IOC) on Thursday reported an 83% drop in second quarter net profit on the back of slump in refinery margins and inventory losses.<\/p>\n<p>Net profit in July-September at \u20b9564 crore was 82.6% lower than \u20b93,247 crore net profit in the year-ago period, IOC Chairman Sanjiv Singh told reporters here.<\/p>\n<p>&#8220;The major reason for the decline in net profit was inventory losses in Q2 as against inventory gain during corresponding quarter of previous year,&#8221; he said.<\/p>\n<p>The company earned $1.28 on turning every barrel of crude oil into fuel in July-September as compared to gross refining margin of $6.79 per barrel in Q2 of the previous fiscal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI : State-owned Indian Oil Corp (IOC) on Thursday reported an 83% drop in second quarter net profit on the back of slump in refinery margins and inventory losses. Net profit in July-September at \u20b9564 crore was 82.6% lower than \u20b93,247 crore net profit in the year-ago period, IOC Chairman Sanjiv Singh told reporters here. &#8220;The major reason for the decline in net profit was inventory losses in Q2 as against inventory gain during corresponding quarter of previous year,&#8221; he said. The company earned $1.28 on turning every barrel of crude oil into fuel in July-September as compared to [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[139,130,187],"tags":[],"class_list":["post-298963","post","type-post","status-publish","format-standard","hentry","category-live-mint","category-newspapers","category-oil-gas-live-mint"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/298963","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=298963"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/298963\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=298963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=298963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=298963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}