31 January 2008 08:06 [Source: ICIS news]
MUMBAI (ICIS news)--Indian Oil Corporation posted a 67.7% year-on-year rise in third-quarter operating profits to total rupees (Rs) 43.1bn ($1.1bn), it said on Thursday.
The company failed to elaborate on its results.
For the period ended 31 December, the refinery major’s third-quarter net sales rose 13.6% to Rs589.6bn, while its net profits surged 97.4% year on year to Rs20.9bn.
Quarter-on-quarter operating profits fell 32.5%, while its net profits dropped 45.2%, however net sales rose 18.4%.
IOC’s shares were up 7.54% at 07:30 GMT to Rs489.90 on the Bombay Stock Exchange.
($1 = Rs39.29)
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