Indian Oil’s third quarter net up 41 percent

January 30th, 2009 - 3:04 pm ICT by IANS  

New Delhi, Jan 30 (IANS) State-run oil major Indian Oil Corp (IOC) Friday said its net profit increased 41.5 percent to Rs.29.58 billion for the quarter ended Dec 31 as compared to Rs.20.9 billion in the corresponding period a year ago. The total income of the company rose 10.6 percent to Rs.723.51 billion in the quarter under review from Rs.654.04 billion, a company statement said.

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

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

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