New Delhi: State-owned (IOC) on Saturday reported a web lack of Rs 272.35 crore for July-September – the second straight quarter of loss arising from promoting petrol, diesel and cooking gasoline LPG at charges beneath price. The online lack of Rs 272.35 crore in comparison with a revenue of Rs 6,360.05 crore in July-September 2021, in response to an organization’s submitting with the inventory exchanges.
IOC in addition to different state-owned gas retailers had booked heavy losses within the first quarter of the present fiscal as they didn’t revise petrol, diesel and cooking gasoline LPG costs consistent with the price to assist the federal government comprise runaway inflation.
In April-June (the primary quarter of 2022-23 fiscal), IOC booked a web lack of Rs 1,992.53 crore.
For the primary half of the present fiscal, the corporate has now amassed a Rs 2,264.88 crore web loss towards 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 12 months again, the submitting confirmed.
