New Delhi, May 25 (UNI) Indian Oil Corporation, the leading public sector oil marketing company, today announced jump of 70 per cent in its net profit for the year 2016-17. Announcing the result, B Ashok, Chairman of Indian Oil said that the Company earned a net profit of Rs 19106 crores in the Financial Year (FY) 2016-17 compared to Rs 11242 crores in the previous year. As per the announcement net profit rose 85 per cent in the fourth quarter, in line with analysts’ expectations, as revenue from operations grew. During the last quarter Indian Oil eaned a profit of Rs 3271 crores compared to Rs 2006 crores in the same period of previous year. Revenue from operations jumped 24 per cent to Rs 1,22,285 crores. Last year it was Rs 98,719 crores. Average gross refining margins improved to 7.77 dollar per barrel in the financial year ended March, compared with 5.06 dollar per barrel in the same period of 2015-16. On the better financial results Company announced further divided of 10 percent in addition to 180 per cent announced earlier for the financial year. Mr Ashok said Indian Oil has been able to maintain its market share of more than 25 per cent. UNI ADP SW SHK 1813