IOC March-quarter Profit Jumps 85%

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Indian Oil Corp said on Thursday (25 May) net profit rose 85 per cent in the fourth quarter, in line with analysts' expectations, as revenue from operations grew.

Net profit, however, fell 6.9 per cent as compared to the previous quarter when it was at Rs 3,995 crore, the company said.

International Olympic Committee announced in a press briefing here that total income from operations during the January-March quarter at Rs 1.24 lakh crore, rose 24 per cent over the like quarter of 2015-16. It hit a low of Rs423.50 and a high of Rs434.75 so far in trade today. An official statement said this is in addition to the first interim dividend of Rs 13.50 per share and second interim dividend of Rs 4.50 per share paid for the financial year 2016-17. The total dividend now stands at Rs 19/share.

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The nation's largest oil refiner earned United States dollars 8.95 on turning every barrel of crude oil into fuel as against a gross refining margin of USD 2.99 per barrel in forth quarter of 2015-16.

International Olympic Committee shares were were up 0.2 per cent as of 0926 GMT, in a broader market.

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