Indian Oil Q3 Profit Surges to ₹12,126 Crore, Shares Jump 2%

• Indian Oil Corporation Ltd. (IOC) reported a net profit of ₹12,126 crore for the December quarter, a significant increase from ₹7,610.5 crore in the September quarter.
• The company's revenue rose 14.3% year-on-year to ₹2.04 trillion, up from ₹1.78 trillion in the previous quarter.
• EBITDA for the December quarter increased by 42.8% to ₹20,824.8 crore, with the EBITDA margin improving by 200 basis points to 10.2%.
• Average Gross Refining Margin (GRM) for April-December stood at $8.41 per barrel, significantly higher than $3.69 per barrel in the same period last year.
• Following the strong results, Indian Oil shares gained about 2% to ₹176.25, with a 40% increase over the last 12 months.