Indian Oil Corporation Net Profit Soars To Rs 13,750 Crore In Q1
NDTV
Standalone net profit of Rs 13,750.44 crore, or Rs 9.98 per share, in April-June (the first quarter of current fiscal year 2023-24) compared with a loss of Rs 1,992.53 crore in the same period a year back, according to a company's stock exchange filing.
India's top oil firm IOC on Friday reported a net profit of Rs 13,750 crore in three months to June 30 - the highest in a decade - as margins on petrol and diesel turned positive on softer oil prices.
Standalone net profit of Rs 13,750.44 crore, or Rs 9.98 per share, in April-June (the first quarter of current fiscal year 2023-24) compared with a loss of Rs 1,992.53 crore in the same period a year back, according to a company's stock exchange filing.
The profit was almost 37 per cent higher than Rs 10,058.69 crore net profit in the preceding quarter and more than half of the company's best-ever annual earning of Rs 24,184.10 crore recorded in 2021-22 (April 2021 to March 2022).
