IOC stages turnaround with Rs 1780.52 Q1 FY07 net profit

New Delhi, July 31 (UNI) State-owned Indian Oil Corporation (IOC) today posted a net profit of Rs 1780.52 crore for the first quarter ended June 30, 2006 as compared to a net loss of Rs 57.93 crore for the same quarter previous year.

The total income was also up by 26 per cent to Rs 49003.64 crore for Q1 FY07, from Rs 38835.24 crore for Q1 FY06, a company statement said.

The company reported a 351 per cent increase in net profit at Rs 4030.57 crore for the last quarter ended March 31, 2006 (Q4 FY 06) as compared to Rs 892.92 crore for the quarter ended March 31, 2005 (Q4 FY 05).

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