Indian Oil Corporation loss widens to Rs.22,450.95 crore

August 9th, 2012 - 5:04 pm ICT by IANS  

New Delhi, Aug 9 (IANS) The government-run oil marketing firm Indian Oil Corporation Thursday announced Rs.22,450.95 crore loss for the quarter ended June 30, 2012.

The company’s loss has widened sharply due to huge under-recoveries on sale of diesel, kerosene and cooking gas. IOC had posted a net loss of Rs.3,718.7 crore during the corresponding quarter of previous year.

The country’s largest oil marketing firm said its total income rose to Rs.97,514.44 crore in April-June 2012 period as compared to Rs.92,644.59 crore recorded in the corresponding period of last year.

Share of IOC was trading 0.10 percent higher at Rs.256.30 at the Bombay Stock Exchange in late afternoon session.

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