Business Standard

Indian Oil posts Q2 profit vs yr-ago loss on strong refining margins

The state-owned company posted a net profit of Rs 12,967 crore ($1.56 billion) for the quarter ended Sept 30

Indian Oil Corp

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

Reuters Bengaluru

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Indian Oil Corp Ltd (IOC) reported a profit for the second-quarter on Tuesday, compared to a loss year ago, as the country's top refiner benefited from higher refining margins.

The state-owned company posted a net profit of Rs 12,967 crore ($1.56 billion) for the quarter ended Sept 30, compared with a loss of Rs 272 crore a year earlier. ($1 = 83.2404 Indian rupees)

 

(Reporting by Sethuraman NR in Bengaluru; Editing by Savio D'Souza)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Oct 31 2023 | 3:03 PM IST

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