{"id":415959,"date":"2021-05-20T08:42:45","date_gmt":"2021-05-20T03:12:45","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=415959"},"modified":"2021-05-20T09:27:25","modified_gmt":"2021-05-20T03:57:25","slug":"ioc-q4-results-rs-8781-cr-net-profit-beats-estimates-on-inventory-gains","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ioc-q4-results-rs-8781-cr-net-profit-beats-estimates-on-inventory-gains\/","title":{"rendered":"IOC Q4 results: Rs 8,781-cr net profit beats estimates on inventory gains"},"content":{"rendered":"<p>Indian Oil Corp Ltd on Wednesday reported a fourth-quarter profit that beat analysts&#8217; estimates by a huge margin as higher crude prices boosted the inventory value of the country&#8217;s biggest refiner.<\/p>\n<p>The state-owned company reported a net profit of Rs 8,781 crore for the quarter ended March 31, compared with a loss of Rs 5,185 crore a year ago. <\/p>\n<p>Analysts were expecting the refiner to log a profit of Rs 5,506 crore, according to Refinitiv IBES data.<\/p>\n<p>Inventory gains are booked when oil prices rise by the time a company processes oil into fuel. Brent crude prices jumped about 23% during the March quarter.<\/p>\n<p>Revenue rose 18% to Rs 1.64 trillion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Oil Corp Ltd on Wednesday reported a fourth-quarter profit that beat analysts&#8217; estimates by a huge margin as higher crude prices boosted the inventory value of the country&#8217;s biggest refiner. The state-owned company reported a net profit of Rs 8,781 crore for the quarter ended March 31, compared with a loss of Rs 5,185 crore a year ago. Analysts were expecting the refiner to log a profit of Rs 5,506 crore, according to Refinitiv IBES data. Inventory gains are booked when oil prices rise by the time a company processes oil into fuel. Brent crude prices jumped about 23% [&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-415959","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\/415959","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=415959"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/415959\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=415959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=415959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=415959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}