{"id":510415,"date":"2022-07-30T10:26:40","date_gmt":"2022-07-30T04:56:40","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=510415"},"modified":"2022-07-30T12:04:00","modified_gmt":"2022-07-30T06:34:00","slug":"ioc-posts-rs-1992-53-cr-net-loss-in-q1-on-petrol-diesel-price-freeze","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ioc-posts-rs-1992-53-cr-net-loss-in-q1-on-petrol-diesel-price-freeze\/","title":{"rendered":"IOC posts Rs 1,992.53 cr net loss in Q1 on petrol, diesel price freeze"},"content":{"rendered":"<p>Indian Oil Corporation (IOC) on Friday reported a net loss of Rs 1,992.53 crore for the June quarter because of a freeze on petrol, diesel and LPG prices despite rising input costs. <\/p>\n<p>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, the company said in a stock exchange filing.<\/p>\n<p>This is this quarterly loss in over two years. The company had in January-March 2020 reported a net loss because of inventory losses. <\/p>\n<p>State-owned fuel retailers &#8211; IOC, Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) &#8211; did not change the prices of petrol and diesel during the quarter despite rates of crude oil (raw material for making fuel) climbing above $100 per barrel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Oil Corporation (IOC) on Friday reported a net loss of Rs 1,992.53 crore for the June quarter because of a freeze on petrol, diesel and LPG prices despite rising input costs. 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, the company said in a stock exchange filing. This is this quarterly loss in over two years. The company had in January-March 2020 reported a net loss because of inventory losses. State-owned fuel retailers &#8211; IOC, Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation [&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":[146,130,177],"tags":[],"class_list":["post-510415","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-oil-gas-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/510415","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=510415"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/510415\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=510415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=510415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=510415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}