Capacity additions in refining and petchem should help sustain momentum

Indian Oil, the country’s largest public sector oil refiner and marketer, had a good 2015-16 fiscal year. The company’s consolidated profit more than doubled year-on-year to ₹11,219 crore despite a 21 per cent dip in revenue to about ₹3.54 lakh crore. The strong profit growth was thanks to a few factors. The fuel pricing reforms — diesel decontrol and direct bank transfer of LPG subsidy — along wi...