Indian Oil Corporation reports net loss of Rs 22450.95 crore in Q1

Indian Oil Corporation has reported results for first quarter ended June 30, 2012.

On standalone basis, the company has reported a net loss of Rs 22450.95 crore for the quarter ended June 30, 2012 against net loss of Rs 3718.70 crore for the corresponding period last fiscal. However, total income increased by 5.26% at Rs 97514.44 crore during the quarter under review from Rs 92644.59 crore in the year-ago period.

Indian Oil Corporation is an integrated oil refining and marketing company. The company, along with its subsidiary, controls ten refineries across India, which have a total installed capacity of 65.7 million tonnes per annum (mtpa); these represent around 35 per cent of the country’s total installed capacity.