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IOC’s profit up 17% on higher refinery margins

NEW DELHI: Indian Oil Corp (IOC) on Friday reported a 17% rise in its fourth-quarter net profit as inventory and foreign exchange gains neutralised lower refinery margins.

NEW DELHI: Indian Oil Corp (IOC) on Friday reported a 17% rise in its fourth-quarter net profit as inventory and foreign exchange gains neutralised lower refinery margins. The net profit of Rs 6,099.27 crore, or Rs 6.46 per share, in January-March 2019 was 16.88% higher than Rs 5,218.10 crore, or Rs 5.51 per share, reported in the year-ago period. PTI

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