The Indian Oil Corporation (IOC) reported a net profit of ₹4,837.69 crore for Q4 ending March 31, 2024. This is a 50% drop from the ₹10,058.69 crore net profit the state-owned firm declared a year ago, for Q4 ending March 31, 2023. The net profit was lower due to fuel price cuts and losses in the petrochemical segment.