June 25, 2020 / 10:45 AM / 2 months ago

BRIEF-Indian Oil Expects India's Fuel Demand To Decline By 5% In FY21

June 25 (Reuters) - Indian Oil Corporation Ltd head of finance Sandeep Kumar Gupta:

* SAYS SEE SUBDUED GROSS REFINING MARGINS IN JUNE QUARTER

* SAYS ONGOING PROJECT WILL CONTINUE, WILL BE CAUTIOUS WITH FUTURE PROJECTS

* SAYS BY END OF THIS MONTH, WE EXPECT OUR BORROWINGS TO GO DOWN TO 1 TRLN RUPEES

* SAYS SEES FUEL DEMAND DECLINING BY 5% THIS FY

* SAYS HOPES FUEL DEMAND TO RECOVER TO PRE-COVID LEVELS IN FY22 Further company coverage:

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