PSU NEWS
IOC posts second quarter net profit of Rs 3121 crore
New Delhi: Oil marketer Indian Oil Corporation (IOC) Ltd today reported a net profit of Rs 3,121.89 crore for the second quarter ended September as compared to a net loss of Rs 450.24 crore in the corresponding period last fiscal.
The company’s total income from operations during the quarter also rose to Rs 100,273 crore as compared to Rs 97,299 crore in Jul-Sep last year.
The company said its average Gross Refining Margin during the period rose to $7.19 per barrel against $5.76 per barrel in Jul-Sep last year. GRM is the difference between the total value of petroleum products and the price of crude.
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