IOCL’s net sales at Rs. 1,549bn in 2QFY19 increased 2.1% QoQ and 40.1% YoY. Revenues increased because of: 1) Sharp rise in average crude oil price from US$50/bbl in 2QFY18 and US $72/bbl in 1QFY19 to US$74/bbl in 2QFY19.
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