New Delhi: Indian Oil Corp. posted the nation’s biggest quarterly loss of Rs224.5 billion ($4.1 billion, Dh14.96 billion) after the government failed to compensate it for capping fuel prices and processing margins turned negative. The country’s largest company had reported an earnings deficit of Rs37.2 billion a year earlier, the New Delhi- based state-owned refiner said in a stock exchange filing on Wednesday. The company received Rs82 billion as a government grant a year earlier.