(ET)
State-run Bharat Petroleum Corp on Saturday posted a loss of ₹6,148 crore for April-June quarter, on the back of a freeze on retail prices of petrol and diesel. During the first quarter of last fiscal year, it had reported a profit of ₹3,214 crore.
Revenue from operations surged 54% from a year earlier to ₹1.3 lakh crore. The company incurred a ₹966 crore foreign exchange loss due to fluctuations in the exchange rates. Its cost of materials consumed more than doubled to ₹63,615 crore from ₹26,805 crore. The loss was despite market sales rising to 11.76 mt in the June quarter from 9.63 mt a year back. BPCL refineries processed 9.69 MT of crude oil into fuel, up from 7.84 MT in April-June 2021.
