BPCL registers ₹338-cr loss for September quarter

Bharat Petroleum Corporation (BPCL) reported a consolidated net loss of ₹338.5 crore for the second quarter ended September, as it held prices of petrol, diesel and LPG despite rising costs. A year ago, the company had posted a net profit of ₹3,149.3 crore.

Net loss, however, narrowed sharply from ₹6,147.9 crore recorded in the previous quarter.

Consolidated revenue from operations stood at ₹1,28,355.7 crore, up from ₹1,01,938.7 crore a year ago. Revenue, however, was lower than ₹1,38,424.5 crore recorded in the first quarter.


BPCL's market sales in the first half (H1) of the fiscal amounted to 23.20 MMT, higher than 19.54 MMT in the year-ago period. Average gross refining margin (GRM) for H1 stood at $22.30 per barrel, compared to $5.23 per barrel a year ago.

BPCL said this was before factoring in the impact of special additional excise duty and road and infrastructure cess, levied with effect from July 1. However, the suppressed marketing margins of certain petroleum products offset the benefit of higher GRM.