{"id":614000,"date":"2023-11-01T09:21:22","date_gmt":"2023-11-01T03:51:22","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=614000"},"modified":"2023-11-01T10:21:42","modified_gmt":"2023-11-01T04:51:42","slug":"indian-oil-q2-results-net-profit-soars-to-rs-13713-cr-beats-expectations","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/indian-oil-q2-results-net-profit-soars-to-rs-13713-cr-beats-expectations\/","title":{"rendered":"Indian Oil Q2 results: Net profit soars to Rs 13,713 cr, beats expectations"},"content":{"rendered":"<p>In the second quarter of FY24 (July-September), the state-run Indian Oil Corporation Ltd (IOCL) saw a remarkable turnaround as its consolidated net profit soared to Rs 13,713 crore, bouncing back from a loss of Rs 910 crore in Q2 FY23. However, on a sequential basis, the net profit exhibited a 7 per cent decrease from Rs 14,735 crore recorded in Q1 FY24. <\/p>\n<p>The public sector oil marketing company (OMC) saw a significant rise in consolidated annual net profit despite auto-fuel marketing margins crashing and the cost of crude purchases rising. In the latest quarter, the company&#8217;s revenue from operations dwindled by 11.9 per cent to Rs 2.05 trillion compared to Rs 2.33 trillion in Q2 FY23.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the second quarter of FY24 (July-September), the state-run Indian Oil Corporation Ltd (IOCL) saw a remarkable turnaround as its consolidated net profit soared to Rs 13,713 crore, bouncing back from a loss of Rs 910 crore in Q2 FY23. However, on a sequential basis, the net profit exhibited a 7 per cent decrease from Rs 14,735 crore recorded in Q1 FY24. The public sector oil marketing company (OMC) saw a significant rise in consolidated annual net profit despite auto-fuel marketing margins crashing and the cost of crude purchases rising. In the latest quarter, the company&#8217;s revenue from operations dwindled [&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-614000","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\/614000","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=614000"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/614000\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=614000"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=614000"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=614000"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}