IOC in addition to different state-owned gasoline retailers had booked heavy losses within the first quarter.
New Delhi:
State-owned Indian Oil Company (IOC) on Saturday reported a internet lack of Rs 272.35 crore for July-September – the second straight quarter of loss arising from promoting petrol, diesel and cooking fuel LPG at charges beneath price.
The web lack of Rs 272.35 crore in comparison with a revenue of Rs 6,360.05 crore in July-September 2021, in accordance with an organization’s submitting with the inventory exchanges.
IOC in addition to different state-owned gasoline retailers had booked heavy losses within the first quarter of the present fiscal as they didn’t revise petrol, diesel and cooking fuel LPG costs according to the price to assist the federal government comprise runaway inflation.
In April-June (the primary quarter of 2022-23 fiscal), IOC booked a internet lack of Rs 1,992.53 crore.
For the primary half of the present fiscal, the corporate has now accrued a Rs 2,264.88 crore internet loss in opposition to a revenue of Rs 12,301.42 crore within the year-ago interval.
The income from operations soared to Rs 2.28 lakh crore in July-September from Rs 1.69 lakh crore a yr again, the submitting confirmed.
(Apart from the headline, this story has not been edited by NDTV workers and is revealed from a syndicated feed.)
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