Indian Oil third-quarter profit plunges 91% to â¹717 crore
The country's largest fuel retailer Indian Oil Corporation on Wednesday reported a 91% year-on-year decline in its net profit at â¹717 crore for the December quarter. The fall in profit came amid increased expenses which stood at â¹1.6 lakh crore and rise in foreign exchange loss. The company's domestic sales increased 2.8% from the year-ago period to 21.545 million tonnes.