Oil Marketing Company BPCL registers Q3 net profit of Rs.551 crore

Feb 13, New Delhi
Public Sector Undertaking oil marketing company, Bharat Petroleum Corporation Limited Friday reported a quarterly net profit of Rs 551 crore on the back of full compensation for losses on fuel sales.
BPCL had reported a net loss of 1,089 crores in the year-ago quarter.

The government paid Rs 1,080 crore in cash subsidy, while upstream oil producers like ONGC extended an assistance of Rs 2,333 crores to make up for all the losses the company had incurred on selling domestic LPG and PDS kerosene at rates lower than cost.
BPCL suffered a Rs 1,600 crore inventory loss as international oil prices slumped.