Indian Oil net profit triples YoY to 21,630 cr in Q2
Indian Oil experienced a remarkable surge in its net profit, which soared to ₹21,630 crore for the second quarter. This growth can be attributed to elevated pump prices and government subsidies for LPG sales. In contrast, the same quarter last year showcased a profit of only ₹7,610 crore. Moreover, operational revenue increased by 29%, reaching ₹2,62,935...
Key Takeaways
- Indian Oil experienced a remarkable surge in its net profit, which soared to ₹21,630 crore for the second quarter.
- This growth can be attributed to elevated pump prices and government subsidies for LPG sales.
- In contrast, the same quarter last year showcased a profit of only ₹7,610 crore.
Indian Oil experienced a remarkable surge in its net profit, which soared to ₹21,630 crore for the second quarter. This growth can be attributed to elevated pump prices and government subsidies for LPG sales. In contrast, the same quarter last year showcased a profit of only ₹7,610 crore. Moreover, operational revenue increased by 29%, reaching ₹2,62,935 crore, with the firm's operating profit from petroleum product sales more than doubling.
Original Publisher Attribution
This summary was curated from Economic Times.