PSU NEWS
IndianOil third quarter net profit jumps threefold to Rs 2339 cr
NEW DELHI. Indian Oil Corporation (IOC) posted a 315 percent jump in its third quarter standalone net profit on the back of better operating income. The company's Q3FY20 standalone net profit stood at Rs 2,339 crore against Rs 563.4 crore in the previous quarter.
Revenue was up 11.6 percent at Rs 1.24 lakh crore against Rs 1.11 lakh crore, QoQ. Tax expense in the quarter stood at Rs 1,383 crore versus Rs 251 crore.
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