IOC reports net profit of Rs 8,781 crore in Q4

New Delhi:  Indian Oil Corporation (IOC), India’s biggest oil firm, on Wednesday reported a net profit of Rs 8,781.30 crore for the January-March quarter, helped by higher refining margins.

Standalone net profit in January-March at Rs 8,781.30 crore, or Rs 9.56 a share, compared with a loss of Rs 5,185.32 crore in the same period a year back, the company said in a regulatory filing.

Revenue from operation jumped to Rs 1.63 lakh crore from Rs 1.39 lakh crore last year. The company sold more petroleum products in the fourth quarter of 2020-21 fiscal at 21.2 million tonnes as opposed to 20.69 million tonnes in the previous year.