BPCL back in the black

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.

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.

HT Image

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.