Indian Oil Corp reports over 19% jump in Q3 net profit at Rs 5,861 crore

Revenue from operations rose nearly 35% to Rs 1.98 trillion

Indian Oil Corporation (IOC) on Monday reported a 19 per cent growth in third quarter net profit as the rise in refining margins negated the fall in marketing margins for keeping petrol and diesel prices unchanged despite rise in cost.

Net profit of Rs 5,860.80 crore in October-December 2021 was 19.2 per cent higher than Rs 4,916.59 crore profit in the same period a year back, the company said in a statement.

It was, however, lower than Rs 6,360.05 crore profit in the preceding quarter.

The profit in Q3 rose "due to higher refining margin," the firm said without giving