Indian Oil posts second quarter loss of Rs.70.4 bn

October 31st, 2008 - 3:36 pm ICT by IANS  

New Delhi, Oct 31 (IANS) India’s largest state-run oil marketing company, Indian Oil Corp, has slipped into the red in the second quarter, posting a loss of over Rs.70.4 billion compared to Rs.38.17 billion the corresponding period last year.In a regulatory statement, IOC said profits dropped 284.6 percent, when compared to last year’s second quarter figures.

The income has, however, increased from Rs.574.18 billion to Rs.869.87 billion this year - a rise of over 51.4 percent.

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