BPCL Reports Rs 3,962 Crore Net Loss in Q1 Amid High Crude Oil Prices

Bharat Petroleum Corporation Ltd recorded a net loss of Rs 3,962 crore in the April-June quarter, marking a significant financial setback. Soaring crude oil prices combined with government-regulated fuel prices severely compressed the company's marketing margins. BPCL also faced heavy losses on LPG sales due to under-recoveries and pending subsidy reimbursements from the government. While the company's revenue from operations grew during the period, total expenses rose sharply, offsetting any gains. Both fuel sales volumes and refinery throughput registered a marginal decline over the quarter.