IOC asks govt to compensate for losses on petrol

State-run Indian Oil Corp Ltd, the country's largest oil refining and marketing firm, has asked the government to compensate for revenue losses incurred by selling petrol below market prices, its chairman said.

IOC has suffered revenue losses of about 15.60 billion rupees so far this fiscal by selling petrol below market price.

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IOC had debt of 786.96 billion rupees at December-end, finance director P.K. Goyal said.

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