IOCL goes from ₹2.6k cr loss to ₹3k cr profit
India's largest commercial enterprise Indian Oil (IOCL) on Friday reported a net profit of ₹3,057 crore for the quarter ended December, compared to a loss of ₹2,637 crore in the year-ago period. However, net sales fell by 22% year-on-year to ₹83,179 crore. The profit was attributed to growth in refining margin, decline in crude oil prices, and higher sales volumes.