IOC December Quarter Net Profit Rises 19%

Indian Oil Corporation has recorded an increase in its third quarter internet revenue

New Delhi: Country's largest retailer, Indian Oil Corporation (IOC) on Monday reported a 19 per cent development in its third quarter internet revenue primarily resulting from rise in refining margins, which negated the autumn in advertising and marketing margins for conserving petrol and diesel costs unchanged regardless of rise in value.It recorded a internet revenue of Rs 5,860.80 crore within the December quarter, which was 19.2 per cent greater than Rs 4,916.59 crore revenue recorded in the identical interval a 12 months again, the corporate stated in a press release.It was, nevertheless, decrease than Rs 6,360.05 crore revenue within the previous quarter.The third quarter revenue rose "due to higher refining margin," the corporate stated with out giving particulars of the margins earned. The firm noticed a drop in advertising and marketing margins because it maintained petrol, diesel and LPG costs regardless of an increase in the price of uncooked supplies.Revenue from operations rose to Rs 1.98 lakh crore in October-December from Rs 1.47 lakh crore a 12 months again.The firm bought 22.6 million tonnes of petroleum merchandise, marginally decrease than 23 million tonnes a 12 months again.Its refineries throughput was 17.4 million tonnes, decrease than 17.86 million tonnes in 2020.

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