May 22 (Reuters) - Indian Oil Corp Ltd, the country’s top refiner, on Tuesday posted a 40 percent jump in fourth-quarter net profit, but missed analysts’ expectations.
Net profit rose to 52.18 billion rupees ($766.82 million), in the quarter ended March 31, from 37.21 billion rupees a year earlier, the state-run company said on Tuesday here
Analysts on average expected a profit of 56.42 billion rupees, Thomson Reuters data showed.
Average gross refining margin improved to $8.49 per barrel in the financial year ended March, compared with $7.77 per barrel in the previous year.
$1 = 68.0475 Indian rupees Reporting by Jessica Kuruthukulangara in Bengaluru, Editing by Sherry Jacob-Phillips