{"id":365928,"date":"2020-08-03T10:16:23","date_gmt":"2020-08-03T04:46:23","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=365928"},"modified":"2020-08-03T10:30:21","modified_gmt":"2020-08-03T05:00:21","slug":"low-fuel-demand-drives-iocs-pre-tax-profit-down-42-to-rs-3204-cr-in-q1","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/low-fuel-demand-drives-iocs-pre-tax-profit-down-42-to-rs-3204-cr-in-q1\/","title":{"rendered":"Low fuel demand drives IOC&#8217;s pre-tax profit down 42% to Rs 3,204 cr in Q1"},"content":{"rendered":"<p>Indian Oil Corporation (IOC) on Friday reported a 42 per cent drop in consolidated profit before tax (PBT) at Rs 3,204.4 crore for the first quarter of the current financial year on low fuel demand. <\/p>\n<p>The pre-tax profit of the country\u2019s largest fuel retailer was Rs 5,482.35 crore during April to June period of 2019-20. <\/p>\n<p>The company\u2019s revenue from operation for the second quarter was down 41 per cent at Rs 90,106.48 crore, against Rs 1.52 trillion in the year-ago period. <\/p>\n<p>The inventory loss for the quarter stood at Rs 3,196 crore, against a gain of Rs 2,362 crore during the first quarter of 2019-20. This translates to $3.05 a barrel loss during the quarter versus $3.92 a barrel gain during the same time last year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Oil Corporation (IOC) on Friday reported a 42 per cent drop in consolidated profit before tax (PBT) at Rs 3,204.4 crore for the first quarter of the current financial year on low fuel demand. The pre-tax profit of the country\u2019s largest fuel retailer was Rs 5,482.35 crore during April to June period of 2019-20. The company\u2019s revenue from operation for the second quarter was down 41 per cent at Rs 90,106.48 crore, against Rs 1.52 trillion in the year-ago period. The inventory loss for the quarter stood at Rs 3,196 crore, against a gain of Rs 2,362 crore during [&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":[135,130,169],"tags":[],"class_list":["post-365928","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/365928","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=365928"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/365928\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=365928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=365928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=365928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}