The net profit for July-September has been reported at Rs 564 crore against Rs 3,247 crore in the same period last year.
Turnover slipped to Rs 1.32 lakh crore from Rs 1.51 lakh crore due to dip in prices.
India’s gasoil demand will rise by an average 5.3 pc per year through the 2025 fiscal year, said Nayara Energy's B Anand.
Meeting stringent environment norms such as not producing petroleum coke, and relocation of the plant has jacked up the cost.
IOC reported a consolidated net profit of Rs 3,737.50 crore, or Rs 4.07 per share in April-June quarter this year.
Shareholders will vote on the proposal at IOC's annual general meeting (AGM) in Mumbai on August 28.
Complexity index designates capabilities of a refinery to upgrade lowest quality crude to highest quality refinery products.
Gasoline and jet fuel demand are expected to rise by 7-8 pc this year, while diesel consumption could increase by 3 pc.
Reliance in the 2018-19 fiscal year that ended March 31, reported a turnover of Rs 6.23 lakh crore.
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