State-owned Oil India Ltd (OIL) reported its highest-ever quarterly net profit of Rs 2,028.33 crore for January-March, driven by higher oil production and better prices. Consolidated profit, including Numaligarh Refineries Ltd, rose by 18% to Rs 2,332.94 crore. Annual net profit fell due to provisions for statutory compliances.
"IPM will set up retail outlets or petrol pumps across the country to undertake fuel sales to the public. In the first phase, we will set up 100 outlets within five years," IPM Founder Gyan Prakash Sharma told PTI here.
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