Q4 results: Indian Oil profit bounces by about 85%

On May 25, 2017, Indian Oil Corp. posted hike in their net profit by about 85 per cent for the quarter ended March 31 which is the result of improved operational efficiency, inventory gain, optimization at refineries and new crude sourcing strategy adopted by the company.
 
The profit of the company soared to Rs 3,721 crore against Rs 2,006 crore compared to the corresponding quarter.  The company’s revenue from operation touched Rs 1,22,285 crore from that of Rs 98,719 crore a year ago. 
 
Also, the company’s gross refining margins increased to $7.77 per barrel in the year ended March, compared with $5.06 per barrel (2015-16).
 
In this fourth quarter, the company has mended inventory loss of Rs 3,417 crore by recording a gain of Rs 2,634 crore.  

While on Friday morning it opened at Rs 432.00, down by 2.31 per cent with its previous close of Rs 438.70 on BSE. Indian Oil Corporation Ltd is down at Rs 428.55 at 9:18 hours