Indian Oil Corporation (IOC) beat analysts expectations in third-quarter earnings for December 2017. The standalone profits doubled to Rs 7,883 crores from Rs 3,696.3 crores.

The oil marketing company's revenue from operations grew to Rs 1.1 lakh crore with a 22.2% increase compared to Rs 90,567 crore in Q2.

Operating profit grew by 80% to Rs. 13,269 crore and there was a margin expansion of 390 basis points at 12%.

IOC Board has approved a bonus share issue in the proportion of one share for every share and has announced an interim dividend of Rs 19 per share.