India IOC says needs oil bonds to make profit

NEW DELHI, Sept 3 (Reuters) - State-run oil marketing firm Indian Oil Corp (IOC.BO: Quote, Profile, Research) may show a loss in the September quarter if the government does not issue fresh oil bonds to compensate it for selling fuel at state-set prices, a senior official said.

"Without bonds we may not be able to show profits this quarter," S. V. Narasimhan, the company's director of finance told reporters on Monday.

The company also plans to sell 15 billion to 20 billion rupees of oil bonds in October, he said.