India's premier public sector oil company Indian Oil Corporation has reported a net profit of Rs 3,682.83 crore for the first quarter ended on June 2009.
The company earned a net profit of Rs 415.13 crore in the same period last year.
Total income of the company declined to Rs 60,683.97 crore in the April-June quarter from Rs 89,148.57 crore in the corresponding period last fiscal. The company informed the Bombay Stock Exchange.
In March 2009, Indian Oil merged Bongaigaon Refinery and Petrochemicals (BRPL) with itself. Hence the figures of the corresponding period last fiscal are not comparable with that of the quarter under review.
Average gross refining margin was $7.36 per bbl, against $16.81 per bbl in the same quarter last year.
The company's revenue from sale of petroleum products stood at Rs 52,853.68 crore against Rs 79,172.81 crore in the same quarter last year.
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