IOC reports biggest ever quarterly loss of Rs. 22,451 -crore; HPCL&BPCL also post higher losses

摘要

Indian Oil Corporation (IOC) has reported the nation's biggest quarterly net loss, by a listed company at Rs. 22,451-crore as the government failed to compensate it for a record losses on fuel sold at controlled rates. IOC had recorded a net loss of Rs. 3,719-crore in the same period last fiscal year. The increase in loss is because of the higher crude oil prices, non-receipt of subsidy and the depreciation of the rupee against the dollar. IOC recorded a 5.3% increase in sales at Rs. 96,603-crore against Rs. 91,705-crore during the same month in the previous year.