New Delhi, July 30 - India's largest refiner Indian Oil Corp Thursday said its net profit for the quarter ended June 30 surged 780 percent as lower crude oil prices narrowed its revenue losses.

The company reported a net profit of Rs.3,680 crore ($763 million) for the quarter compared to Rs.410 crore in the like period the year before.

The total income for the same period stood at Rs.60,680 crore, down from Rs.89,140 crore a year earlier.

This year's first quarter figures also include the numbers for Bongaigaon Refinery and Petrochemicals Ltd (BRPL), which was merged with India Oil March 25, 2009.

The gross refining margin has seen a decline from $16.81 per barrel to $7.36 per barrel during the first quarter.

Indian Oil got discounts worth Rs.229 crore from upstream companies for the April-June quarter as compared to Rs.6,230 crore a year ago.