IOC says needs oil bonds to make profit

IOC says needs oil bonds to make profit
Comment E-mail Print Share
First Published: Mon, Sep 03 2007. 07 38 PM IST
Updated: Mon, Sep 03 2007. 07 38 PM IST
New Delhi, 3 September State-run oil marketing firm Indian Oil Corp may show a loss in the September quarter if the government does not issue fresh oil bonds to compensate it for selling fuel at state-set prices, a senior official said.
“Without bonds we may not be able to show profits this quarter,” S. V. Narasimhan, the company’s director of finance told reporters on Monday.
The company also plans to sell Rs15 billion to 20 billion of oil bonds in October, he said. REUTERS
Comment E-mail Print Share
First Published: Mon, Sep 03 2007. 07 38 PM IST
More Topics: IOC | oil bonds | Money Matters | Commodities |