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Tuesday, November 3, 2015

Indian Oil posts Rs 329 crore net loss in Q2 on falling oil prices

Indian Oil on Tuesday reported a net loss of Rs 329 crore in the September quarter as margins squeezed on falling oil prices.
"This is compared to a net loss of Rs 898.46 crore in the same period a year ago," India Oil (IOC) said in a stock exchange filing.
Fall in oil price meant turnover dropped to Rs 85,384.81 crore in Q2 as opposed to Rs 111,663.81 crore a year ago.
IOC said all of its losses on sale of PDS kerosene and domestic LPG at government controlled rates were made good.

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