Indian Oil Net profit for Q1 rises 31%

摘要

Indian Oil Corporation reported a 30.9% increase in its net profit for the first quarter of fiscal 2016-17 at Rs 8,628.98 crore against 76,590.83 crore in Q1 /2015-16. The jump in profit was due to substantial inventory gain and improvement in margins from the petrochemical business. However, during the quarter, the company's net revenue fell 5.75% to Rs 1,07,200.65 crore against Rs 1,13,743.46 crore in Q1/2015-16.