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A fall in Brent crude prices bodes well for oil marketing companies as it lowers their input costs, giving them more headroom to keep competitive prices, which eventually aids their margins.
Indian Oil share rises 2% after firm logs highest ever profit For FY21, revenue from operations declined 9.6 per cent to Rs 520,236.84 crore as against Rs 575,989.70 in the fiscal year 2020 BusinessToday.In | May 20, 2021 | Updated 14:20 IST Representative Image Indian Oil Corporation rose 2.5 per cent to hit a fresh 52-week high of Rs 109.90 after the company reported a record consolidated net profit of Rs 21,762.22 crore for the fiscal year 2021 against a net loss of Rs 1,876.32 crore in FY20. This is the highest annual profit ever reported by the firm. However, the stock shed all early g...