Indian Oil Corp net profit jumps 25% in Q1FY17; shares remain flat

Indian Oil Corporation on Monday report 25.4% jump in net profit for the quarter ended on June 30. The company posted net profit of Rs 8268.9 crore for the June quarter as compared to Rs 6590.8 crore in the quarter ended on June 30, 2015.

The company's total income decreased from Rs 1,14,200.2 crore in Q1FY17 to Rs 1,07,670.9 crore in Q1FY16. 

After the announcement of the quarterly results, the shares of the company slipped marginally. At 1436 hours, the shares of the company were trading at Rs 571.25, down 0.44%, or Rs 2.55 on BSE.

The company's average gross refining margin stood at $9.98 per barrel in June 2016 quarter as compared to $10.77 per barrel during the same period a year-ago. 

Along with the results, the company also announced issue of bonus shares in the ratio of 1:1 i.e. One equity bonus share of Rs. 10/- each for every One existing equity share of Rs. 10/- each fully paid up subject to the approval of the shareholders