OMCs Face Rs 1.2 Lakh Crore Q1 Loss, FY26 Profits at Risk
India's state-owned oil marketing companies, IOC, BPCL, and HPCL, face an estimated Rs 1.2 lakh crore combined loss in Q1 FY26 as crude prices rise and LPG under-recoveries widen. With the Centre ruling out fuel price hikes, a full-year profit wipeout is now a real risk.