Economic TimesLean R·
IOC slips into loss in Q1 on holding fuel prices despite rise in cost
Indian Oil Corporation reported losses for the June quarter that were lower than analysts expected. This was largely due to efficiency improvements and higher margins from refining. The company celebrated record highs in crude throughput and a drop in fuel losses, with petrol and diesel sales reaching impressive quarterly figures. Moreover, IOC successfully secured crude oil from multiple global sources, mitigating any supply disruptions.
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