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Fuel Price Freeze To Hit Oil Companies' Profits: Fitch

Fuel sales in India rose to pre-Covid-19 levels during April-June quarter of current fiscal year.
Fuel sales in India rose to pre-Covid-19 levels during April-June quarter of current fiscal year.
The freeze on petrol, diesel and LPG price revision despite rising cost will hit profitability of state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) this fiscal, Fitch Ratings said on Wednesday.
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