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

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.

twitter-logo PTI   New Delhi     Last Updated: November 3, 2015  | 14:35 IST
Indian Oil posts Rs 329 crore net loss in Q2
IOC said all of its losses on sale of PDS kerosene and domestic LPG at government controlled rates were made good. (Photo: Reuters)

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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