INDIA'S Indian Oil Corp (IOC) expects to hit a revenue loss of US$1.3 billion for the rest of the...
“Our revenue loss will be 48 billion rupees (US$1.1 billion) due to low prices of kerosene and LPG, and 13 billion rupees (US$288 million) due to diesel,” an anonymous IOC official told the newspaper.
“In April-October, the first seven months of the fiscal year ending March 2005, IOC suffered a revenue loss of 43 billion rupees (US$953 million) on account of kerosene and LPG, and 16 billion rupees (US$355 million) because of petrol and diesel.”
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