Fire and Rescue Services officials said the fire suddenly broke out in the oil depot where lubricant oil and oil used for machinery were kept for sale.
All the items kept inside the depot were gutted.
Two employees of the depot, who tried to douse the fire, sustained serious burns and were admitted to a private hospital, police said.
Fire and Rescue Services personnel using water and some other chemical doused the fire after fighting it for two and a half hours.
Yesterday, a fire in a wholesale textile godown at Bhavani had destroyed goods worth lakhs of rupees, police said.
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