{"id":359369,"date":"2020-06-25T12:29:20","date_gmt":"2020-06-25T06:59:20","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=359369"},"modified":"2020-06-25T13:05:43","modified_gmt":"2020-06-25T07:35:43","slug":"indian-oil-reports-first-quarterly-loss-in-4-years-after-surge-in-inventory-losses","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/indian-oil-reports-first-quarterly-loss-in-4-years-after-surge-in-inventory-losses\/","title":{"rendered":"Indian Oil reports first quarterly loss in 4 years after surge in inventory losses"},"content":{"rendered":"<p>BENGALURU: Indian Oil Corp Ltd, the country\u2019s top refiner, on Wednesday reported its first quarterly loss in more than four years in the March quarter, after a surge in inventory losses following a sharp fall in crude oil prices. <\/p>\n<p>Chairman Sanjiv Singh said the fall in global prices impacted the group\u2019s financial performance for the January-March quarter as the company holds about 45 days inventory. <\/p>\n<p>Inventory losses are booked when oil prices fall by the time a company processes oil into fuel. Brent crude oil prices fell 65.6% during the March quarter. <\/p>\n<p>Head of finance Sandeep Kumar Gupta said in January-March, Indian Oil registered inventory losses of 146.92 billion rupees, against a gain of 26.55 billion rupees a year earlier.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BENGALURU: Indian Oil Corp Ltd, the country\u2019s top refiner, on Wednesday reported its first quarterly loss in more than four years in the March quarter, after a surge in inventory losses following a sharp fall in crude oil prices. Chairman Sanjiv Singh said the fall in global prices impacted the group\u2019s financial performance for the January-March quarter as the company holds about 45 days inventory. Inventory losses are booked when oil prices fall by the time a company processes oil into fuel. Brent crude oil prices fell 65.6% during the March quarter. Head of finance Sandeep Kumar Gupta said in [&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":[130],"tags":[],"class_list":["post-359369","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/359369","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=359369"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/359369\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=359369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=359369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=359369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}