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Shares of Indian Oil Corporation (IOC) and Bharat Petroleum Corporation (BPCL) are trading higher by up to 4% each after reporting a strong set of numbers for the quarter ended June 30, 2014 (Q1).
IOC has surged 4% to Rs 342 on National Stock Exchange (NSE) after recorded net profit of Rs 2,523 crore for the quarter ended June 2014 against loss of Rs 3,093 crore in a year ago quarter.
BPCL too gain 3.3% at Rs 592 after posting net profit of Rs 1,216 crore in June quarter compared to Rs 150 crore in the corresponding quarter of previous fiscal.
The company said during the quarter under review, it reported gain of Rs 587 crore on account of foreign currency transaction and translations against expenses of Rs 944 crore in previous year quarter.
IOC has surged 4% to Rs 342 on National Stock Exchange (NSE) after recorded net profit of Rs 2,523 crore for the quarter ended June 2014 against loss of Rs 3,093 crore in a year ago quarter.
BPCL too gain 3.3% at Rs 592 after posting net profit of Rs 1,216 crore in June quarter compared to Rs 150 crore in the corresponding quarter of previous fiscal.
The company said during the quarter under review, it reported gain of Rs 587 crore on account of foreign currency transaction and translations against expenses of Rs 944 crore in previous year quarter.
