Indian Oil Q3 net profit rises 34 percent
New Delhi, Feb 13 : State oil marketing giant Indian Oil Corporation (IOC) Wednesday reported a 33.9 percent rise in consolidated net profit to Rs.3,331.96 crore for the quarter ended December 2012, from Rs.2,488.44 crore in the corresponding period last year.
The net sales increased 7.45 percent to Rs.115,517.51 crore for the quarter ended Dec 31 from Rs.107,512.26 crore in the year-ago period.
IOC's total income during the quarter increased 7.98 percent to Rs.116,474.44 crore from Rs.107,868.65 crore for the quarter ended Dec 31, 2011.
However, quarter-on-quarter the company posted a 65.35 percent decline in net profit of Rs.3,331.96 crore for the quarter ended December 2012 as compared to Rs.9,611.35 crore for the quarter ended September 2012.
The total income quarter-on-quarter increased 9 percent to Rs.116,474.44 crore for the previous quarter from Rs.106,848.25 crore for the quarter ended Sep 30, 2012.
During the third quarter of the current fiscal, the operating profit margin decreased to 3.5 percent from 9.18 percent for the same period last year.
Shares of Indian Oil gained 0.79 percent to close at Rs.319.85 on the Bombay Stock Exchange.