IOC says crude buying swung from $5 discount to $12 premium in Q2

Indian Oil Corporation bought crude at prices ranging from a $5-per-barrel discount to a $12 premium during the September quarter, Director (Finance) Anuj Jain told investors. The refiner's net profit more than doubled to ₹21,630 crore on stronger refining margins. LPG under-recoveries, ₹229 per cylinder in October, are projected to rise to ₹309 in November and ₹370 in December.