Profit

Oil cos to suffer despite duty rejig

PUBLISHED ON: June 4, 2008 | Duration: 2 min, 57 sec

  
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In Greek mythology Icarus flew too close to the heat and his wings melted away. But the government has managed to stop the same from happening to India's oil marketing companies (OMCs). The fuel price hike coupled with duty rejigs has meant that losses at OMCs are likely to come down considerably from the projected Rs 2,45,000 crore.
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