Indian Oil Q4 Results: Net profit jumps 67% to Rs 10,059 crore

Indian Oil has posted a 67% increase in Q4 profit to INR 10,059 crore driven by strong refining and marketing margins. The company reported annual profit of INR 8,242 crore for 2022-23, down 66% YoY due to lower marketing and petrochemicals margin and higher exchange losses. The company incurred a foreign exchange loss of INR 6,701 crore during 2022-23, compared to INR 1,434 crore in the previous year. Its debt-equity ratio increased to 0.98 at the end of FY23 from 0.84 a year earlier.