India’s IOC swings to $718 million quarterly loss

摘要

Mumbai-State-owned refiner Indian Oil Corporation July 24 reported a net loss of Rupees 33.88 billion ($718 million) for the quarter ended June 30, 2010, compared with profit of Rupees 36.82 billion in the corresponding period last year due to a drop in refining margins, foreign exchange fluctuations and steep under-recoveries.