IOC Q1 net profit up 50% to over Rs 7,000 crore

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NEW DELHI: Indian Oil Corporation (IOC) today reported 50.27 per cent jump in consolidated net profit at Rs 7,092.42 crore for the first quarter of the current fiscal.

The country’s largest fuel retailer had posted net profit of Rs 4,719.71 crore in the same quarter of last fiscal.

IOC said in a regulatory filing that its net income increased to Rs 1,52,377 crore during April-June quarter of the 2018-19, from Rs 1,32,234 crore in the year-ago period.

Expenses remained higher at Rs 1,42,866 crore as against Rs 1,25,447 crore in the said period.

Source: Economic Times