Indian Oil Corp posts 37.5% rise in Q2 op profit

30 October 2007 09:53  [Source: ICIS news]

MUMBAI (ICIS news)--Indian Oil Corp (IOC) posted a 37.5% year-on-year rise in second-quarter operating profit to about Indian rupees (Rs) 64bn ($1.63bn), the company said on Tuesday.

For the quarter, the company’s net sales fell 1.6% to Rs497.8bn, whereas net profit was up 25% to Rs38.17bn, the company said.

Quarter on quarter, the company’s operating profit was up 106%, while its net sales fell 6%. Net profit was up 160%, however.

Shares in the company were trading up 3.76% from the previous day's close to Rs465 at 09:40 GMT on the Bombay Stock Exchange.

($1 = Rs39.32)

By: Isha Jha
+65 6780 4359

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