(EnergyAsia, Feb 7) — Indian Oil Corporation Ltd. (IOC) has reported making a net profit of Rs 12.87 billion for the October-to-December quarter, down sharply from Rs 24.04 billion over the same quarter in the previous year. (US$1=Rs44). The company blamed the drop to “higher under-recoveries and subsidies on sales of kerosene and LPG” along…