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Thursday, Aug 01, 2002

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Corporate Results - Petroleum

BPCL's other income doubles

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MUMBAI: Bharat Petroleum Corporation Ltd (BPCL) has reported a 9.91 per cent increase in net profit to Rs 245 crore (Rs 222.9 crore) for the first quarter ended June 30, 2002. Net sales were up 9.2 per cent to Rs 11,079.8 crore (Rs 10,146.3 crore) while other income almost doubled at Rs 60.8 crore (Rs 35.6 crore).

The company's market sales stood marginally lower at 4.89 million tonnes (4.98 mt) because of lower naphtha sales. The decrease was offset by an increase in retail sales of LPG (by 12.3 per cent), diesel (1.8 per cent), petrol (10.9 per cent) and lubes (25.4 per cent), a news release said.

Total expenditure went up 9 per cent to Rs 10,590.9 crore (Rs 9,695.6 crore). Interest payment were lower at Rs 62.5 crore (Rs 7.21 crore). Depreciation increased to Rs 101 crore (Rs 72.1 crore) because of higher procurement of LPG cylinders worth Rs 26.80 crore (Rs 10.28 crore). The cylinders were depreciated at 100 per cent, a news release said.

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