IOC Q4 net down 29%
Mumbai   31-May-2011

IndianOil (IOC) on Monday posted 29.7% drop in net profit for the fourth quarter ended March 31 due to rise in losses arising from selling fuel at government-controlled rates. Net profit in the January-March quarter stood at Rs 3,905.16 crore from Rs 5,556.77 crore a year ago.