IndianOil quarterly net up 34 per cent at Rs 3,332 crore

State-owned Indian Oil Corporation (IOC) today reported a 34 per cent rise in its net profit at Rs 3,331.96 crore in the quarter ended December.

Sales rose to Rs 115,517.51 crore during October-December from Rs 107,512.26 crore a year ago, the company said in filing to the stock exchanges.

IOC said the government has only compensated part of the revenue loss it suffered on selling diesel, domestic LPG and kerosene at rates lower than cost.

It has received Rs 29,568.53 crore as cash subsidy so far this fiscal year and had an unmet loss of Rs 13,226.84 crore.