BPCL posts ₹3,962 crore loss in June quarter:Rising crude oil prices weigh on company’s fundamentals

Bharat Petroleum released its June quarter results today on July 22. In this quarter, the company incurred a loss of ₹3,962 crore. In the same quarter last year, there was a profit of ₹6,124 crore. Meanwhile, 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% higher compared to the same period last year. At that time, the company’s revenue was ₹1.29 lakh crore. On a quarter-on-quarter basis, revenue increased 18% compared to ₹1.35 lakh crore in the March quarter. US-Iran conflict causing crude oil price increase is the main reason for losses Due to the US-Iran war that started on February 28, crude oil prices reached up to $120 per barrel. Along with this, there was also an increase in freight and insurance costs. The entire burden of increased costs could not be passed on to common consumers by raising LPG and petrol-diesel prices, which is why the company had to bear this loss. Bharat Petroleum’s share remained flat in one year Bharat Petroleum’s shares closed down 3% today at ₹309. This year, that is from January 1 till now, it has fallen 19%. In the past 6 months it has fallen 12% and in one year it has fallen 9%. Bharat Petroleum was formed on January 24, 1976 Bharat Petroleum Corporation Limited (BPCL) is one of India’s leading public sector oil companies. It was established on January 24, 1976. It refines and markets petroleum products. It operates refineries in Mumbai, Kochi, Numaligarh and Bina. Their combined refining capacity is over 40 million metric tons per year. BPCL also distributes various petroleum products including fuel, lubricants, and Liquefied Petroleum Gas (LPG). Its Chairman and Managing Director is G. Krishnakumar.