Oil marketing major Indian Oil Corporation (IOC) on Tuesday posted 40.25 per cent year-on-year rise in profit at Rs 5,218.10 crore for the quarter ended March 31.
It had posted a net profit of Rs 3720.62 crore in the corresponding quarter last year.
ETNow poll had predicted a profit of Rs 4,800 crore.Revenue from operations jumped 12.29 per cent year-on-year to Rs 1.37 lakh crore in Q4FY18 from Rs 1.22 lakh crore in Q4FY17.Average gross refining margin (GRM) for April-March 2018 stood at $8.49 per barrel against $7.77 per cent during the same period a year ago.Shares of the company were trading 0.80 per cent down at Rs 163.95 at around 2.45 pm (IST), while benchmark Sensex was up 14 points at 34,630 around the same time.