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Indian oil posts first profit in three quarters on Fuel subsidy

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The concepts are:

-Discounting

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Indian oil posts first profit in three quarters on fuel subsidy is determined.

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Discounting: Indian oil posts first profit in three quarters on Fuel subsidy:

Discounting mechanism provides a debtor with a right of ensuring that a debtor delays payments to the creditor for a certain period of time whereby a certain discount rate is charged. The final paid charge is usually different from the initial amount owed as a result of the incorporated discount rate which is also referred to as the discount yield. Discount rate is known to be rate of growth of the income whenever an extension is available within the allocated time of debt repayment.

Looking at the article, Indian Oil Posts First Profit In three Quarters on fuel subsidy, various applications of the concept of discounting is evident. Indian Oil Corp, which is the nation's largest refiner, generated certain sales amount after discounting tool place within the financial year that ended in December 31st 2011. The company's net income received during that time period was higher by 53 percent which resulted to a total net income of 506 million dollars (24.9 billion rupees) compared to the previous financial year's net income of 16.3 billion rupees (Katakey,2012).

The principle of discounting ...

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