IOC, BPCL, HPCL Report Rs 30,106 Cr Q2 Profit, 39% of Last Year
India's three major state-run fuel retailers—IOC, BPCL, and HPCL—reported a combined net profit of Rs 30,106 crore in Q2 (July-September), reversing a prior loss of Rs 18,150 crore. This profit surge occurred despite petrol and diesel price freezes since May. Indian Oil Corporation posted its highest standalone quarterly profit, driven by strong refining margins but still faces fuel under-recovery challenges.
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