Comments
Indian Oil Corporation (IOC) on Friday reported over three-fold jump in June quarter net profit on the back of surge in refining margin and inventory gains.
Standalone net profit of ₹5,941.37 crore, or ₹6.47 a share, in April-June is compared with ₹1,910.84 crore, or ₹2.08 per share, in the same period of 2020-21, the company said in a filing to stock exchanges.
India’s largest oil refiner earned $6.58 on turning every barrel of crude oil into fuel in the quarter as opposed to a gross refining margin (GRM) of a minimum $1.98 a barrel a year back.
After netting out inventory gain, the core GRM was $2.24 per barrel.
Revenue from operations was up 74 per cent at ₹1.55 lakh crore.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.