IndianOil posts record ₹22,503 crore Q2 profit as crude eases

State-run Indian Oil Corporation reported a record profit of ₹22,503 crore for the September quarter, 2.7 times a year earlier, helped by lower crude prices between July and mid-August and strong petrochemical and gas margins. It had posted a ₹1,241 crore loss in the June quarter. Revenue rose 30% to ₹2.7 lakh crore, but IOC warned of possible inventory losses ahead.