The nation's largest oil firm Indian Oil Corp reported a net loss of INR 7,485.55 crore for the quarter ended September 30 due to mounting losses on fuel sales.

The net loss of INR 7485,55 crore for the July-September quarter was in sharp contrast to the net profit of INR 5,293.95 crore posted by the company for the year ago period.

The oil marketing company's revenue increased from INR 78,208.14 crore in the quarter ended September 30th 2010, to INR 89,769.60 crore in Q2 of the current fiscal.

(Sourced from ET)