January 30, 2020 / 9:42 AM / a month ago

Indian Oil December-quarter profit rises threefold

BENGALURU, Jan 30 (Reuters) - Indian Oil Corp Ltd, the country’s top refiner, reported a threefold rise in December-quarter profit on Thursday.

Net profit for the state-owned company was 23.39 billion rupees ($329.11 million) in the quarter ended Dec. 31, compared with 7.17 billion rupees a year earlier.

Revenue from operations for the reported quarter fell 9.4% to 1.45 trillion rupees. ($1 = 71.0700 Indian rupees) (Reporting by Nallur Sethuraman in Bengaluru; Editing by Shounak Dasgupta)

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