India’s largest state-owned refiner, Indian Oil Corporation (IOC), saw its net profit surge four times for the quarter ended December 31 compared to a year earlier as falling crude oil prices boosted refining margins. Indian Oil reported on Thursday a standalone net profit of $1.34 billion (121.26 billion Indian ‌rupees) for the October-December quarter, which is the third quarter of its 2025/2026 fiscal year ending on March 31, 2026. That’s a fourfold jump compared to the net profit of $318 million (28.74 billion rupees)…