![IOCL Q4 profit soars 52% to ₹10,841 cr; stock rises](https://images.assettype.com/fortuneindia%2F2022-04%2F5057bb68-83e9-473d-b083-e251333ceddd%2FIndian_Oil_Fuel_Station_04682_copy.jpg?rect=0,0,2160,1080&w=300&q=95)
IOCL Q4 profit soars 52% to ₹10,841 cr; stock rises
Shares of Indian Oil Corporation Ltd rose as much as 4% to ₹87.65 apiece on the NSE
Shares of Indian Oil Corporation Ltd rose as much as 4% to ₹87.65 apiece on the NSE
India's windfall tax on exports of locally-produced oil has helped reduce the state-owned refining and marketing companies' marketing losses, says Moody's.
The windfall tax on domestically produced crude oil has been halved to ₹4,900 per tonne from ₹10,200 per tonne, whereas the tax of export of diesel has been slashed to ₹8 per litre.