32 minutes ago
- copy link
Bharat Petroleum released its June quarter results today on July 22. The company has suffered a loss of ₹3,962 crore in this quarter. There was a profit of ₹6,124 crore in the same quarter last year. Whereas in the March quarter there was a profit of ₹ 3,191 crore.
Revenue from operations increased 23% to ₹1.59 lakh crore
BPCL’s revenue stood at ₹1.59 lakh crore. This is 23% more than the same period last year. At that time the company had a revenue of ₹ 1.29 lakh crore. On a quarter-on-quarter basis, revenue has increased by 18% as compared to ₹1.35 lakh crore in the March quarter.
Increase in crude oil due to America-Iran war was the main reason for the loss.
Due to the US-Iran war that started on February 28, the price of crude oil had reached $ 120 per barrel. Along with this, the cost of freight and insurance also increased.
The entire burden of increased costs could not be passed on to the common consumers by increasing the prices of LPG and petrol-diesel, due to which the company had to suffer this loss.
Bharat Petroleum shares remained flat in one year
Bharat Petroleum shares closed 3% lower at Rs 309 today. This year i.e. from January 1 till now it has fallen by 19%. It has fallen 12% in the last 6 months and 9% in a year.
Bharat Petroleum was formed on 24 January 1976
Bharat Petroleum Corporation Limited (BPCL) is a major public sector oil company of India. It was established on 24 January 1976. It refines and markets petroleum products. It operates refineries in Mumbai, Kochi, Numaligarh and Bina.
Their combined refining capacity is more than 40 million metric tons per year. BPCL also distributes various petroleum products including fuels, lubricants and liquefied petroleum gas (LPG). Its chairman and managing director is G Krishnakumar.
Source link
[ad_3]
