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Indian Oil Q1 Results: Costlier Fuel Brings Profit, Revenue Nearly Halves

Indian Oil Corp. returned to profit in the quarter ended June as it hiked retail fuel prices.

Mahima Kapoor
People with and without protective masks stand next to an Indian Oil Corp. gas station during a partial lockdown imposed due to the coronavirus in New Delhi, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

Indian Oil Corp. Ltd. returned to profit in the quarter ended June as it hiked retail fuel prices, trying to recover costs after the government raised taxes when crude fell.

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Shares of Indian Oil fluctuated between gains and losses to trade flat at Rs 88.35 after the quarterly results were announced.

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FOMC Meeting Preview: US Fed Rate Cut To Mark Pivot Toward Job Market

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