Net profit was at Rs 3,721 crore in January-March compared to Rs 2,006 crore in the same period of the previous fiscal, IOC Chairman B Ashok said.
The nation's largest oil refiner earned USD 8.95 on turning every barrel of crude oil into fuel as against a gross refining margin of USD 2.99 per barrel in forth quarter of 2015-16.
For the full fiscal, IOC posted it's highest-ever net profit of Rs 19,106 crore. It had reported a net profit of Rs 11,242 crore in 2015-16.
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