Indian Oil profit plunges 80%

New Delhi, May 27

Indian Oil Corp (IOC) today reported 80% drop in its March quarter net profit to Rs 1,235.64 crore.

IOC had a net profit of Rs 6,285.35 crore in January-March 2015, the company said in a stock exchange filing.

Low oil prices meant turnover dropped to Rs 80,449.57 crore in the fourth quarter of 2015-16 fiscal from Rs 93,830.13 crore a year ago.

SJVN profit down 20%

State-run SJVN Ltd on Friday reported a 20.31% decline in standalone net profit at Rs 147.48 crore for the March quarter due to charging lower tariff from consumers of its Nathpa Jhakri Hydro project.

During 2015-16, the company’s turnover from Nathpa Jhakri project was Rs 1,863.31 crore as compared to Rs 2,401.17 crore in the previous fiscal.

Total standalone income has also decreased from Rs 3,255.92 crore for the year ended March 31, 2015 to Rs 2,908.21 crore for the year ended March 31, 2016.

BHEL Q4 profit drops 60%

BHEL’s standalone net profit declined 59.5% to Rs 359.58 crore in the quarter ended March 31, 2016, due to lower income from operations. Total income fell by 21.5% to Rs 10,004.77 crore during the January-March quarter 2015-16 compared to that of Rs 12,745.19 crore in the same period of previous fiscal. PTI