State-run refiner Indian Oil Corporation’s gross refining margin spiked 136% year on year to $10.21/b over April-June on inventory gains, the company said Saturday. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The GRM was $4.32/b in April-June last year, the first quarter of India’s fiscal year. Its crude throughput inched up 0.9% year on year in the three months ended June 30 to 17.67 million mt, it said in a regulatory filing. Its pipeline throughput rose 7% on the year in to 22.85 million mt in April-June. Domestic sales of refined products rose 3.9% year on year to 21.62 million mt over the same period, while the company’s exports in the quarter fell 30% year on year to 1.25 million mt, reflecting the higher domestic demand. The higher refining margin saw the company’s net profit recording a 50% year-on-year rise to […]