IOC Q3 revenue 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 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

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