May incur losses in Q2: IOC

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Posted: 2008-10-03 16:23:01+05:30 IST
Updated: Oct 03, 2008 at 1623 hrs IST

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State-run Indian Oil Corporation on Friday said the company may incur losses in the second quarter for selling oil products at a discount.

"We may incur losses for selling oil products at a discount if the government does not revise the subsidy-sharing mechanism," company's Director (Finance) S V Narsimhan said on the sidelines of an energy conference.

The company has already approached the government on this issue requesting to re-look into the subsidy-sharing mechanism.

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May incur losses in Q2: IOC

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