Indian Oil profit drops 35% as refining margins shrink

摘要

INDIAN Oil Corp, the nation's largest oil firm, reported a 35 per cent drop in fourth-quarter net profit as refining margins shrank and the government did not fully compensate it for losses on fuel sales. Net profit declined to Rs 9,389.85 crore in the January-March quarter from Rs 14,512.81 crore in the same period a year ago, the company said in a statement.