IOC records quarterly loss, sold petrol at Rs 10 a litre loss, diesel at Rs 14
India’s largest oil refining and fuel retailing firm, Indian Oil Corporation (IOC NSE -2.54 %), sold petrol and diesel at a loss of Rs 10/litre and Rs 14/litre respectively during the April-June quarter, leading to the company reporting its first quarterly net loss in over two years, reported PTI citing a report.
IOC recorded a net loss of Rs 1,992.53 crore in April-June compared to Rs 5,941.37 crore of net profit in the same period a year back and Rs 6,021.9 crore in the preceding January-March quarter.
