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IOC Q2 profit plunges 83% YoY to Rs 563 cr

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Indian Oil Corporation on Thursday posted a 82.65 per cent year-on-year fall in profit at Rs 563.42 crore for the quarter ended September 30. The firm had posted a profit of Rs 3,246.93 crore in the corresponding quarter last year.Analysts in an ETNOW poll had projected a net profit of Rs 3,710 crore for the quarter under review.Revenue from operations decreased 12.66 per cent to Rs 1,32,375.69 crore in Q2.

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