IOC's Q3 operating profits rise 67.7%

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)

By: Aaron Rodrigues
+65 6780 4359

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