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IOC profit surges 2.7x in Q2 on crude price decline - The Times of India
State-run Indian Oil Corporation (IOC) reported record profit of Rs 22,503 crore during the Sept quarter - a 2.7-fold jump over a year ago - driven largely by a decline in crude oil prices between July and mid-Aug and robust margins from the petrochemical and gas segments. In the June quarter, the company had reported a loss of Rs 1,241 crore due to elevated crude prices amid the West Asia war.
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