IOC posts 3-fold jump in Q1 profit

New Delhi, July 30

Indian Oil Corporation (IOC), the country’s biggest oil refiner, on Friday reported a three-fold jump in its June quarter net profit on the back of higher refining margins and inventory gains.

Standalone net profit of Rs 5,941.37 crore in April to June was up 210% when compared with Rs 1,910.84 crore a year earlier. Revenue from operations was up 74% at Rs 1.55 lakh crore. — PTI