New Delhi, October 30

India’s top oil firm IOC on Friday reported an 11-fold jump in its standalone net profit to Rs 6,227.31 crore for the September 2020 quarter, on the back of a boost in refining margins and inventory gain on using low-priced crude oil for making fuels.

The company had reported a net profit of Rs 563.42 crore in the corresponding period a year ago, Indian Oil Corp (IOC) chairman Shrikant Madhav Vaidya said. — PTI