{"id":533121,"date":"2022-10-31T11:27:46","date_gmt":"2022-10-31T05:57:46","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=533121"},"modified":"2022-10-31T13:37:36","modified_gmt":"2022-10-31T08:07:36","slug":"ioc-reports-first-ever-back-to-back-quarterly-loss-despite-booking-lpg-subsidy-received-in-october","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ioc-reports-first-ever-back-to-back-quarterly-loss-despite-booking-lpg-subsidy-received-in-october\/","title":{"rendered":"IOC reports first-ever back-to-back quarterly loss despite booking LPG subsidy received in October"},"content":{"rendered":"<p>State-owned Indian Oil Corporation (IOC) on Saturday reported a net loss of Rs 272.35 crore for July-September despite booking over Rs 10,800 crore of LPG subsidy it received from the government after the quarter ended.<\/p>\n<p>The net loss of Rs 272.35 crore compares to a profit of Rs 6,360.05 crore in July-September 2021, according to a company&#8217;s filing with the stock exchanges.<\/p>\n<p>The decline comes on the back of a Rs 1,992.53 crore loss incurred in the previous April-June quarter. This is the first time that IOC has booked losses in two straight quarters &#8211; all because it sold petrol, diesel and cooking gas (LPG) at rates below cost.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>State-owned Indian Oil Corporation (IOC) on Saturday reported a net loss of Rs 272.35 crore for July-September despite booking over Rs 10,800 crore of LPG subsidy it received from the government after the quarter ended. The net loss of Rs 272.35 crore compares to a profit of Rs 6,360.05 crore in July-September 2021, according to a company&#8217;s filing with the stock exchanges. The decline comes on the back of a Rs 1,992.53 crore loss incurred in the previous April-June quarter. This is the first time that IOC has booked losses in two straight quarters &#8211; all because it sold petrol, [&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":[130,211,144],"tags":[],"class_list":["post-533121","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-pioneer","category-the-pioneer"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/533121","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=533121"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/533121\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=533121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=533121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=533121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}