The report further said that, ahead of the fuel price increases, Sujata Sharma, joint secretary in the oil ministry, repeatedly said at press briefings that oil marketing companies were losing about Rs 1,000 crore a day. Oil ministry officials also said losses in the June quarter could erase the companies’ profits for FY26. Indian Oil, BPCL, and HPCL had reported combined profitS of Rs 77,280 crore last fiscal year.
