Public sector company Bharat Petroleum Corporation Limited (BPCL) has reported a decline in profits. BPCL’s profit for the April-June quarter of the current fiscal fell 27.6 per cent to Rs 1,501.65 crore. On the road to privatization, BPCL reported a net profit of Rs 2,076.17 crore for the same quarter last fiscal. Let’s say the government is going to sell its entire 52.98 percent stake in BPCL. Two of the three companies interested in buying the stock were foreign companies.
Company income: During the same period, BPCL’s operating income increased to Rs. 89,687.12 crore from Rs. BPCL sold 96.3 lakh tonnes of petroleum products in the April-June 2021 quarter, up from 75.3 million tonnes in the same quarter a year ago.
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68.4 lakh tonnes of crude oil production: With economic activity boosting fuel demand, BPCL’s oil refineries produced 6.84 million tonnes of crude oil in the first quarter of the current fiscal year, up from 54 million tonnes in the first quarter of FY2017. The company earned $ 4.12 per barrel of crude oil in the first quarter, up from $ 0.39 per barrel in the first quarter of last year.
