BPCL reports 21.45% drop in Q2 FY27 net profit, attributes losses to fuel pricing issues
Higher refining margins could not make up for losses on petrol, diesel and LPG, and the company's LPG under-recoveries have reached ₹17,334 crore.
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BPCL's net profit fell 21.45% to about ₹4,863 crore in July–September, from ₹6,191.5 crore a year earlier.
Revenue rose 29.7% to ₹1,57,818 crore, but state oil companies are selling petrol, diesel and LPG below market rates.
Its cumulative losses on LPG rose to ₹17,334 crore by September 30, about ₹5,000 crore more than in March.