So, finally the oil companies have started showing the ‘loss’ in the balance sheets. Indian Oil Corporation, this quarter has shown the massive loss of 22,452 rupees! To be noted that IOC is a govt. operated company and it saw such losses due to delays in govt. compensation and a combined foreign exchange and inventory loss of around 7,249 crore INR. Hindustan Petroleum Corp. Ltd. also reported a loss of 9,249 Crores.