Indian Oil posts Rs.4.15 bn net profit in first quarter

July 30th, 2008 - 2:47 pm ICT by IANS  

New Delhi, July 30 (IANS) Hit by soaring international crude prices in the first quarter this fiscal, the state-owned Indian Oil Corporation Ltd (IOC) saw its net Q1 profit dipping to Rs.4.15 billion, compared to Rs.14.68 billion it posted in the same period last year, the company announced Wednesday. However, its net sales rose to Rs.744.96 billion from Rs.528.62 billion.

The total income increased from Rs.545.53 billion for the first quarter last year to Rs.891.49 billion for the quarter ended June 30, 2008.

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