Indian Oil Corporation profit doubles in third quarter on inventory gains Wockhardt October-December net profit rises over 58% on year to Rs 15 crore Lupin Oct-Dec consolidated net profit at Rs 438 crore, sales rise 6.6% on year
Indian Oil Corporation (IOC) on Friday reported a near doubling of December quarter net profit as rising oil prices yielded inventor y gains and a rise in petrochemical margins. Net profit in October-December at Rs 4,916.59 crore was 97% higher than Rs 2,339.02 crore earning in the same period a year back. "Net profit increased because of inventor y gains and higher petrochemical margin," IOC Chairman Shrikant Madhav Vaidya said.
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Wockhardt Ltd's consolidated net profit for the December quarter rose 58.3% on year to 152.4 mln rupees. Revenue from operations rose 2.1% to 7.64 bln rupees. Sequentially, net profit rose over four-fold and revenue was up 7%. The company's other income rose to 1.01 bln rupees from 172 mln rupees a year ago.
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Lupin Ltd posted a consolidated net profit of 4.38 bln rupees in Oct-Dec against a loss of 8.35 bln rupees a year ago. Revenue from operations for the quarter rose 6.6% to 40.17 bln rupees. Sequentially, the net profit more than doubled and revenue rose 4.8%. The net profit topped analysts' estimate of 2.9 bln rupees.
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