Indian Oil Q4 net profit jumps 85%, shares rise 3%


Indian Oil Corp said on Thursday net benefit rose 85 percent in the final quarter, in accordance with investigators’ desires, as income from operations developed.

India’s top refiner said benefit came in at Rs. 3,721 crore ($576.45 million) in the quarter finished March 31, contrasted and Rs. 2,006 crore a year prior.

Income from operations hopped 24 percent to Rs. 122 crore.

Examiners on average expected March-quarter net benefit of 37.95 billion rupees, Thomson Reuters information appeared.

Average gross refining edges enhanced to $7.77 per barrel in the budgetary year finished March, compared and $5.06 per barrel in the 2015-16 period.

IOC shares were up 0.2 percent starting at 0926 GMT, in a more extensive market <.NSEI> that was 1.3 percent higher.