Indian Oil Corporation, Bharat Petroleum Corporation Ltd, and Hindustan Petroleum Corporation Ltd reported bumper profit totalling over Rs 69,000 crore in the first nine months of the current fiscal, exceeding their annual earnings in pre-oil crisis years. The combined net profit of the three companies in April-December FY24 was better than their annual earning of Rs 39,356 crore in pre-oil crisis year. The retailers have not changed petrol, diesel, and cooking gas (LPG) prices for almost two years now, resulting in losses when input cost was higher and profits when raw material prices were lower. The three firms posted record earnings in the first two quarters of this fiscal year when international oil prices almost halved, but on a year as a whole, they had rich profits. Read The Rest at :