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Indian Oil Corporation (IOC) on Friday posted around 13 times growth in consolidated net profit at Rs 6,025.81 crore for the quarter ended September 30. It had reported a profit of Rs 468.04 crore in the corresponding quarter last year.
A drop of 18.78 per cent YoY in total expenditure aided the bottomline of the oil marketing company. The outflows declined to Rs 1,09,497.85 crore from Rs 1,34,823.53 crore.
Consolidated revenue slipped 13.39 per cent YoY to Rs 1,16,713.17 crore.
On the other hand, other income increased to Rs 1,157.99 crore from Rs 449.09 crore.
Shares of IOC traded 2.55 per cent up at Rs 80.45 after the announcement of financial results, while the benchmark BSE Sensex was down 0.57 per cent at 39,524 at around the same time.
A drop of 18.78 per cent YoY in total expenditure aided the bottomline of the oil marketing company. The outflows declined to Rs 1,09,497.85 crore from Rs 1,34,823.53 crore.
Consolidated revenue slipped 13.39 per cent YoY to Rs 1,16,713.17 crore.
On the other hand, other income increased to Rs 1,157.99 crore from Rs 449.09 crore.
Shares of IOC traded 2.55 per cent up at Rs 80.45 after the announcement of financial results, while the benchmark BSE Sensex was down 0.57 per cent at 39,524 at around the same time.
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