INSUBCONTINENT EXCLUSIVE:
Indian Oil said its revenue from operations rose nearly 37 per cent to Rs 1.52 lakh croreState-run refiner Indian Oil Corp posted a 12.2 per
cent fall in second-quarter profit on Friday, missing estimate by a wide margin, dented by forex expenses and raw material costs.Net profit
came in at Rs 3,247 crore ($446.92 million) in the quarter ended September 30, compared with Rs 3,696 crore a year earlier, IOC
said.Analysts had on an average expected a profit of Rs 5,088 crore, according to Refinitiv data.Average gross refining margin for the
April-September period - the difference between the cost of crude oil processed and the prices of refined products - dropped to $8.45 per
barrel from $6.08 per barrel a year earlier.Revenue from operations rose nearly 37 per cent to Rs 1.52 lakh crore.Shares in Indian Oil rose
