IOC posts ₹1,993 crore net loss led by high input costs

Indian Oil Corporation (IOC) on Friday reported a net loss of ₹1,993 crore for the quarter ended June compared to a net profit of ₹5,941.37 crore in the corresponding period in FY22. High input costs led to a fall in its profit. IOC's revenue from operations rose to ₹2.51 lakh crore driven by higher international oil prices.