{"id":299032,"date":"2019-11-01T12:17:03","date_gmt":"2019-11-01T06:47:03","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=299032"},"modified":"2019-11-01T12:17:03","modified_gmt":"2019-11-01T06:47:03","slug":"ioc-net-dips-83-pc-in-q2-on-lower-refinery-margins-inventory-losses","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ioc-net-dips-83-pc-in-q2-on-lower-refinery-margins-inventory-losses\/","title":{"rendered":"IOC net dips 83 pc in Q2 on lower refinery margins, inventory losses"},"content":{"rendered":"<p>New Delhi, Oct 31 () State-owned Indian Oil Corp (IOC) on Thursday reported a 83 per cent drop in second quarter net profit on the back of slump in refinery margins and inventory losses.<br \/>\nNet profit in July-September at Rs 564 crore was 82.6 per cent lower than Rs 3,247 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 USD 1.28 on turning every barrel of crude oil into fuel in July-September as compared to gross refining margin of USD 6.79 per barrel in Q2 of previous fiscal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi, Oct 31 () State-owned Indian Oil Corp (IOC) on Thursday reported a 83 per cent drop in second quarter net profit on the back of slump in refinery margins and inventory losses. Net profit in July-September at Rs 564 crore was 82.6 per cent lower than Rs 3,247 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 USD 1.28 on turning every barrel of [&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":[130,219,137],"tags":[],"class_list":["post-299032","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/299032","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=299032"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/299032\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=299032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=299032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=299032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}