 "Indian Oil Corp")
State-owned Indian Oil Corp. posted a 50 per cent jump in quarterly profit as the margin for converting crude into fuels more than doubled.
Net income climbed to Rs 68.3 billion ($992 million) in the quarter ended June 30, from Rs 45.5 billion a year earlier, the company said in a stock-exchange filing Saturday. That compares with the Rs 53.3-billion average of 20 estimates compiled by Bloomberg. Sales rose 16 per cent to Rs 1.5 trillion.
India’s largest refiner has taken advantage of rising domestic oil consumption, which expanded for a 10th straight month in June, as vehicle sales surged and economic
