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First half augurs well for IOC

New Delhi, Oct. 30: Indian Oil Corporation (IOC), country’s only Fortune 500 company, has posted a 307 per cent jump in net profit at Rs 3,139 crore during the first half ended September 30 compared with Rs. 1,019 crore during the same period last year.

For the second quarter (July-September 2002), net profit leaped 541 per cent (Rs 2,513 crore) compared with Rs 465 crore during the same period last year.

For the first half of 2002-03, IOC's gross turnover was marginally lower at Rs. 56,663 crore compared with Rs 59,376 crore for the same period last year. This was ascribed to lower crude sales to other marketing companies. However, other income registered a 29 per cent increase, from Rs. 630 crore last year to Rs. 817 crore this year.

For the half year (April-September 2002), the earnings per share (EPS) stood at Rs 40.31 against Rs 13.09 for the same period in the previous year. Indian Oil had earned a net profit of Rs 2,885 crore during the financial year ended March 2002.

IBP net at Rs 36.24 cr

IBP Company Ltd today reported a net profit of Rs 36.24 crore during the second quarter ended September, 2002, as compared with Rs 32.51 crore in the corresponding quarter of the previous fiscal.

Total income during the quarter increased 17.86 per cent to Rs 2362.37 crore from Rs 2004.41 crore last year.

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