×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Indian Oil to save $282 mln after duty cut

Indian Oil to save $282 mln after duty cut
Comment E-mail Print Share
First Published: Wed, Feb 28 2007. 01 26 PM IST
Updated: Wed, Feb 28 2007. 01 26 PM IST
By Reuters
NEW DELHI: Indian Oil Corp., India’s largest oil retailer, said its yearly revenue loss on petrol and diesel sales would narrow by Rs12.5 billion after excise duty was cut in the budget
“Our under-recoveries on sale of petrol and diesel will be cut by 50 paise due to duty cut if the current selling price is maintained,” Indian Oil’s director of finance S. V. Narsimhan told Reuters.
India on Tuesday reduced excise duty on petrol and diesel to 6 % from 8 %.
Comment E-mail Print Share
First Published: Wed, Feb 28 2007. 01 26 PM IST
More Topics: Budget 2007 | Budget and Markets |