All together consolidated taking of oil-marketing majors Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL) touched a five-year high of Rs 1.62 trillion at the end of March 2019, up 30 percent from Rs 1.25 trillion a year ago.
IndianOil’s total debt stood at Rs 92,712 crore as of FY19-end, followed by Rs 42,915 crore of BPCL and Rs 26,036 crore of HPCL. The three companies together added Rs 36,402 crore to the debt pile.
A K Sharma, director (finance) at IndianOil, said, “Our debt for the financial year has increased to Rs 81,000 crore as of now, mainly owing to the government dues of around Rs 19,000 crore — out of which Rs 13,883 crore was on account of direct benefit transfer on LPG, Rs 3,395 crore was on kerosene, and the remaining Rs 2,000 crore went as PMUY deposit.”
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