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Indian Oil posts 50% jump in Q1 net at Rs 70.9 bn; income up at Rs 1.52 trn

Press Trust of India/New Delhi 11 Aug 18 | 08:03 PM

A logo of Indian Oil is picture outside a fuel station in New Delhi | Photo: Reuters

Indian Oil Corporation (IOC) on Saturday reported 50.27 per cent jump in consolidated net profit at Rs 70.92 billion for the first quarter of the current financial year.

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The country's largest fuel retailer had posted net profit of Rs 47 billion in the same quarter of last financial year.

IOC said in a regulatory filing that its net income increased to Rs 1.52 trillion during April-June quarter of the 2018-19, from Rs 1.32 trillion in the year-ago period.

Expenses remained higher at Rs 1.42 trillion as against Rs 1.25 trillion in the said period.

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