Indian Oil Corporation, one of the major oil marketing firm posted a profit of Rs 5,218.10 crore for the quarter ending March 31, 2018. The profits are up by 40.25 percent on a year-on-year basis. The company posted a net profit of Rs 3720.62 crore in the corresponding quarter during the previous year.

The increase in the price of crude oil in the global market is spreading its impact across all the countries in the world. The crude oil hit an all-time high of $80 per barrel during last week in the U.S., which fueled the prices of petrol and diesel in India and as well as other countries.

The prices of petrol and diesel are increasing every day for a period of four weeks in a row which in turn has sparked inflation rate.

Today the prices of petrol per liter stand at Rs 76.87 and diesel at Rs 68.08, in New Delhi.

Revenue from operations rose to 12.29 percent and stood at Rs 1.37 lakh crore in Q4 2018 from the previous record of Rs 1.22 lakh crore in Q4 2017.

The average gross refining margin (GRM) of the company during April-March 2018 stands at $8.49 per barrel as against $7.77 percent during April-March 2017 period.

The Board of Indian Oil Corporation has recommended a final dividend of Rs 2 per share (i.e.@ 20% on the paid up equity share capital) for the financial year 2017-18.

The Shares of Indian Oil Corporation Ltd were trading at Rs 161.55 per piece down by 2.27 percent at 3:45 pm (IST) in BSE.