Indian Oil posts 50% jump in Q1 net at Rs 70.9 bn; income up at Rs 1.52 trn

Expenses remained higher at Rs 1.42 trillion

Indian Oil Corp
A logo of Indian Oil is picture outside a fuel station in New Delhi | Photo: Reuters

Indian Oil Corporation (IOC) on Saturday reported 50.27 per cent jump in consolidated net profit at Rs 70.92 billion for the first quarter of the current financial year.

The country's largest fuel retailer had posted net profit of Rs 47 billion in the same quarter of last financial year.

IOC said in a regulatory filing that its net income increased to Rs 1.52 trillion during April-June quarter of the 2018-19, from Rs 1.32 trillion in the year-ago period.

Expenses remained higher at Rs 1.42 trillion as against Rs 1.25 trillion in the said period.