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By selling cheap petrol, government company face loss

cheap petrol
Written by bobby
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By selling cheap petrol, government companies face a loss

increased revenue

Increased revenue

Revenue from operations grew by 54% to ₹1.3 lakh crore over the previous financial year. The company has incurred a loss of ₹966 crore in foreign exchange due to fluctuations in exchange rates. The cost of material consumption of Bhartiya Petroleum has more than doubled from ₹26,805 crore to ₹63,615 crores.

Despite the increase in sales, there is a loss

Despite the increase in sales, there is a loss

The company suffered losses despite market sales rising to 11.76 million tonnes in the June quarter. Sales in the last financial year stood at 9.63 million tonnes. BPCL’s refineries had refined 7.84 MT of crude oil to fuel in the April-June quarter of 2021. The company’s refineries have refined 9.69 MT of crude oil into fuel in the June quarter this year.

The company did not increase the price

The company did not increase the price

The company said that there has been a net loss of Rs 6,290.8 crore in April-June. The company had a loss of Rs 3,192.58 crore in the June quarter last year. The company earned USD 27.51 per barrel of crude oil converted to fuel in the quarter, compared to a gross refining margin of USD 4.12 per barrel in the June quarter a year ago. But the company suffered losses due to non-raising fuel prices despite rising costs.

About the author

bobby

Hi, I am Bobby. Blogger India. I love writing, and reading articles. Blogging is my passion. I have started my blogging career in 2016.

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