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The Times of India

Business

PTI

IOC, HPCL, BPCL post Rs 18,480 crore loss in Q1 on holding petrol, diesel prices

HPCL BPCL IOC Petrol Oil Bharat Petroleum Corporation Ltd Hindustan Petroleum Corporation Ltd Petroleum India New Delhi

NEW DELHI: State-owned Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL) posted a combined loss of Rs 18,480 crore on holding petrol and diesel prices despite a rise in cost.

According to stock exchange filings by the three fuel retailers, the losses were due to erosion in the marketing margin on petrol, diesel and domestic LPG.

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