Indian Oil posts 50% jump in Q1 net at Rs 70.9 billion; income up at Rs 1.52 trillion

NEW DELHI: Indian Oil Corporation (IOC) on Saturday reported 50.27 per cent jump in consolidated net profit at Rs 70.92 billion for the first quarter of the current financial year.nnThe country’s largest fuel retailer had posted net profit of Rs 47 billion in the same quarter of last financial year.nnIOC said in a regulatory filing that its net income increased to Rs 1.52 trillion during April-June quarter of the 2018-19, from Rs 1.32 trillion in the year-ago period.nnExpenses remained higher at Rs 1.42 trillion as against Rs 1.25 trillion in the said period.nnSource: Press Trust of India