{"id":359181,"date":"2020-06-25T10:18:27","date_gmt":"2020-06-25T04:48:27","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=359181"},"modified":"2020-06-25T10:32:54","modified_gmt":"2020-06-25T05:02:54","slug":"indianoil-reports-rs-17318-cr-loss-in-q4fy20-on-inventory-demand-issues","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/indianoil-reports-rs-17318-cr-loss-in-q4fy20-on-inventory-demand-issues\/","title":{"rendered":"IndianOil reports Rs 17,318 cr loss in Q4FY20 on inventory, demand issues"},"content":{"rendered":"<p>The country\u2019s largest fuel retailer Indian Oil Corporation on Wednesday reported a loss of Rs 17,318 crore for the March quarter (Q4) of financial year 2019-20 (FY20) on the back of inventory losses and low fuel demand because of the global Covid-19-induced slowdown. It had recorded a profit before tax of Rs 9,020 crore in the corresponding quarter in FY19.<\/p>\n<p>The company said there was a significant fall in oil prices because of Covid-19 and changes in the oil market scenario, and this led to a write-down in valuation of inventories below cost of Rs 6,855.35 crore for the period. After taking a longer time, the write-down in valuation of inventories increased to Rs 11,304.64 crore over one year. In Q4FY20 foreign exchange loss stood at Rs 4,145.53 crore, against Rs 1,740.94 crore a year ago.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The country\u2019s largest fuel retailer Indian Oil Corporation on Wednesday reported a loss of Rs 17,318 crore for the March quarter (Q4) of financial year 2019-20 (FY20) on the back of inventory losses and low fuel demand because of the global Covid-19-induced slowdown. It had recorded a profit before tax of Rs 9,020 crore in the corresponding quarter in FY19. The company said there was a significant fall in oil prices because of Covid-19 and changes in the oil market scenario, and this led to a write-down in valuation of inventories below cost of Rs 6,855.35 crore for the period. [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-359181","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/359181","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=359181"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/359181\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=359181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=359181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=359181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}