IndianOil profit rises 40% in Q4 on higher margin
New Delhi   23-May-2018

The country’s largest oil refiner and fuel retailer IndianOil Corporation (IOC) on Tuesday reported Rs 5,218 crore net profit in the March quarter, marking a 40% jump from Rs 3,720 crore in the previous comparative period, on the back of higher refining margin and inventory gain.

Chairman Sanjiv Singh said IndianOil earned $9.12 on refining a barrel of crude in the fourth quarter of 2017-18 against almost $9 in the year-ago period. Turnover rose to Rs 1.4 lakh crore in the quarter under review from Rs 1.2 lakh crore in the year-ago period. The company made an inventory gain of Rs 3,442 crore during the quarter.

For the full year, net profit stood at all-time high of Rs 21,346 crore on a turnover of Rs 5 lakh crore against a net profit of Rs 19,106 crore on a turnover of Rs 4.45 crore in 2016-17.