IOC reports massive loss of Rs 5,185 crore in Q4 on inventory losses
NEW DELHI: State-owned Indian Oil Corp (IOC) on Wednesday reported a massive Rs 5,185 crore loss in the March quarter after a slump in oil prices resulted in record inventory losses for the company.
The net loss of Rs 5,185.32 crore in January-March compared to Rs 6,099.27 crore net profit in the same period a year back, IOC Chairman Sanjiv Singh told reporters here.
