Reuters Last Updated: May 25, 2017 | 15:10 IST
Indian Oil Corp said on Thursday net profit rose 85 percent in the fourth quarter, in line with analysts' expectations, as revenue from operations grew.
Country's top refiner said profit came in at Rs 3,721 crore ($576.45 million) in the quarter ended March 31, compared with Rs 2006 crore a year earlier.
Revenue from operations jumped 24 percent to Rs 1.22 trillion. Analysts on average expected March-quarter net profit of Rs 3795 crore, Thomson Reuters data showed.
Average gross refining margins improved to $7.77 per barrel in the financial year ended March compared with $5.06 per barrel in the 2015-16 period.
