 "IOCL")
State-run Indian Oil Corporation (IOC) has posted a 29 per cent increase in net profit for the third quarter of the financial year 2016-17 to Rs 3995 crore, as compared to Rs 3,096 crore during the same time owing largely due to inventory gains.
Meanwhile, the income from operations for the quarter ended on December 31 stood at Rs 1,15,645 crore, compared with Rs 97,069 crore during the third quarter in 2015-16. For the period under review, the average gross refining margin was seen at $7.67 per barrel, compared with $5.96 per barrel in the same period last year.
Meanwhile, the income from operations for the quarter ended on December 31 stood at Rs 1,15,645 crore, compared with Rs 97,069 crore during the third quarter in 2015-16. For the period under review, the average gross refining margin was seen at $7.67 per barrel, compared with $5.96 per barrel in the same period last year.
