Indian Oil's third quarter net up 41 percent

Friday, 30 January 2009, 10:04 Hrs
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New Delhi: State-run oil major Indian Oil Corp (IOC) Friday said its net profit increased 41.5 percent to 29.58 billion for the quarter ended Dec 31 as compared to 20.9 billion in the corresponding period a year ago.

The total income of the company rose 10.6 percent to 723.51 billion in the quarter under review from 654.04 billion, a company statement said.

IOC's net sales improved 3.9 percent to 61,285.67 crore (612.85 billion) in October-December from 58,960.05 crore (589.60 billion) a year ago.

However, the company reported a net loss of 3,673.41 crore (36.73 billion) in the first nine months of the current fiscal mainly due to losses in the second quarter.
Source: IANS
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