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18.4 percent jump in net profit, says IOC
Posted on: 28/Oct/2017 11:42:14 AM
On Friday, the state-owned Indian Oil Corp. rolled out a report stating that the September quarter net profit has observed 18.4 percent jump and raised up to Rs. 3,696.29 crore in one year due to higher volumes in spite of raised cost.
In the second quarter, about 10 percent revenue jump is informed, says Indian Oil. This accounts to Rs. 1.1 trillion.
The difference of net profit during the September quarter is mainly due to inventory gains, said Sanjiv Kumar, the chairman of Indian Oil.
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