IOC records a three-time jump in net profit

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New Delhi: Indian Oil Corporation (IOC) recorded a three-time jump in the June quarter with its net profit on the back of higher refining margins and inventory gains.

During April – June, the net profit was Rs. 5,941.37 crore which was up by 210 percent compared to the net profit a year back with the covid situation still around the nation.

The top oil firm’s Chairman Shrikant Madhav Vaidya stated that the company, IOC has earned $6.58 on turning every barrel of crude oil into fuel in June Quarter, compared to the last quarter net profit earned
And the revenue from operations was up by 74 percent at Rs. 1.55 lakh crores.