Indian Oil Corporation NSE -0.90 % (IOC NSE -0.90 %), Bharat Petroleum and Hindustan Petroleum NSE -3.25 % may post a combined loss of Rs 10,700 crore in June quarter on selling petrol and diesel at rates below cost, a report said on Monday.
While the raw material (crude oil) prices soared in April-June, petrol and diesel prices were not revised, leading to marketing losses which offset strong refining margins, ICICI Securities NSE 0.14 % said in the report.
