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Indian Oil Corporation Loss Widens to Rs.22,450.95 Crore

  •   Thu, Aug 09 2012 05:05:18 PM

New Delhi, Aug 9 (IANS): The government-run oil marketing firm Indian Oil Corporation Thursday announced Rs.22,450.95 crore loss for the quarter ended June 30, 2012.

The company's loss has widened sharply due to huge under-recoveries on sale of diesel, kerosene and cooking gas. IOC had posted a net loss of Rs.3,718.7 crore during the corresponding quarter of previous year.

The country's largest oil marketing firm said its total income rose to Rs.97,514.44 crore in April-June 2012 period as compared to Rs.92,644.59 crore recorded in the corresponding period of last year.

Share of IOC was trading 0.10 percent higher at Rs.256.30 at the Bombay Stock Exchange in late afternoon session.

  

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Comment on this article

  • VTD, M'lore

    Fri, Aug 10 2012

    When company is in profit no one talks about it. But when its in loss all are worry. Chk out below link last quarter its profit was 224% hike.


    http://economictimes.indiatimes.com/news/news-by-company/earnings/earnings-news/indian-oil-net-profit-up-224-at-rs-12670-crore-beats-estimates/articleshow/13597767.cms

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