{"id":299034,"date":"2019-11-01T12:17:25","date_gmt":"2019-11-01T06:47:25","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=299034"},"modified":"2019-11-01T12:17:25","modified_gmt":"2019-11-01T06:47:25","slug":"ioc-net-profit-falls-83-to-rs-563-crore-in-q2","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ioc-net-profit-falls-83-to-rs-563-crore-in-q2\/","title":{"rendered":"IOC net profit falls 83% to Rs 563 crore in Q2"},"content":{"rendered":"<p>NEW DELHI: The country&#8217;s top refiner Indian Oil Corporation (IOC) on Thursday reported a 82.7 per cent slump in its net profit for the quarter ended September 30, 2019, on the back of slump in refinery margins and inventory losses.<br \/>\nThe company posted a standalone net profit of Rs 563.42 crore in the second quarter as compared with a net profit of Rs 3,246.93 crore reported in the same period last year.<br \/>\nIn terms of quarter on quarter, the state-owned firm reported 84.33 per cent fall in its net profit during Q2. It had posted a net profit of Rs 3,596.11 crore in the quarter ended June 30, 2019.<br \/>\n&#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; IOC chairman Sanjiv Singh said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: The country&#8217;s top refiner Indian Oil Corporation (IOC) on Thursday reported a 82.7 per cent slump in its net profit for the quarter ended September 30, 2019, on the back of slump in refinery margins and inventory losses. The company posted a standalone net profit of Rs 563.42 crore in the second quarter as compared with a net profit of Rs 3,246.93 crore reported in the same period last year. In terms of quarter on quarter, the state-owned firm reported 84.33 per cent fall in its net profit during Q2. It had posted a net profit of Rs [&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-299034","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\/299034","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=299034"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/299034\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=299034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=299034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=299034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}