Indian Oil Reports Drop in Q1 Profit

Indian Oil Corporation July 31 said standalone profit for the three months to June (Q1 2020) dropped 47% year-on-year to Indian rupees 35.96bn ($520mn).

Revenue during the quarter was rupees 1.5 trillion, marginally up from rupees 1.49 trillion in the year ago period, it said. Indian Oil sold 22.658mn metric tons of products, including exports, during the quarter.