IOC Q3 profit zooms 110% to Rs4,916 cr

New Delhi, January 29 Indian Oil Corporation (IOC) on Friday said its December quarter net profit more than doubled to Rs 4,916.59 crore as rising oil prices yielded inventory gains and a rise in petrochemical margins. The net profit in...

Tribune Web Desk

Updated At : 01:40 PM Jan 30, 2021 IST

New Delhi, January 29

Indian Oil Corporation (IOC) on Friday said its December quarter net profit more than doubled to Rs 4,916.59 crore as rising oil prices yielded inventory gains and a rise in petrochemical margins.

The net profit in October-December 2020 was 110% higher than Rs 2,339.02 crore earning in the same period a year back.

“Net profit increased because of inventory gains and higher petrochemical margin,” Indian Oil Corporation chairman Shrikant Madhav Vaidya told reporters here. — PTI