Bharat Petroleum Corp Ltd (BPCL) on Friday reported a net profit of Rs. 5,035 crore during the July-September quarter against a Rs. 3,229-crore net loss in the year-ago period after the government released part of the fuel subsidy.
The oil major received a compensation of Rs. 7,280 crore from the government for the first half of the current fiscal.
The government gives subsidies to fuel retailers for selling diesel, domestic LPG and kerosene below the market price. Net sales rose to Rs. 56,860 crore during the second quarter against Rs. 42,282 crore a year ago.