Indian Oil Corporation (IOC), the country's largest refiner and fuel retailer, posted a net loss of Rs 414 crore in the quarter ended March 2008, against a net profit of Rs 1,503 crore in the same quarter last year, as high crude oil prices coupled with a marginal increase in retail prices bloated its subsidy bill.

<tr><td><p class='TableClas'></p><P class='TableClas'> <DIV CLASS=rightDiv><script language="JavaScript">
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		<script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js">
		</script> </DIV><p class='TableClas'>The loss was after taking credit for oil bonds worth Rs 7,536 crore during the quarter. The last quarterly loss posted by the company was in the quarter ending June 2005. 
</p><p class='TableClas'><A href="https://www.business-standard.com/general/pdf/052908_01.htm">(Click here for table "IOC: SLIPPING ON SUBSIDIES")</A>
</p><p class='TableClas'>For the full year, the Fortune 500 company (Ranked 135) posted a net profit of Rs 6,963 crore, down 7 per cent from last year's net profit of Rs 7,499 crore. 
</p><p class='TableClas'>The company declared an annual dividend of 55 per cent. Sales during the year were, however, at an all-time high of Rs 2,47,479 crore, up 12 per cent on year, though lower than the 20 per cent growth recorded in 2006-07. 
</p><p class='TableClas'>IOC Chairman Sarthak Behuria said "profitability of the company is severely affected" as it suffers a loss of Rs 300 crore per day on account of selling the four subsidised products 

Crude shock to IOC, Q4 loss at Rs 414 cr

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