Multiple choice

Which of the following Fortune 500 Indian companies has suffered loss for the first time in the first quarter of 2005-06?

  1. Indian Oil Corporation

  2. ONGC

  3. Reliance Industries

  4. Bharat Petroleum Corporation
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A Correct answer
Explanation

Indian Oil Corporation (IOC) reported its first quarterly loss in the first quarter of 2005-06 due to under-recoveries from selling petroleum products below market prices. This was unprecedented as IOC had consistently been profitable since its inception. ONGC, Reliance, and BPCL remained profitable.

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