Financial Daily from THE HINDU group of publications
Saturday, Oct 29, 2005
Financial Daily from THE HINDU group of publications Saturday, Oct 29, 2005 |
|
|
|
|
|
Home Page
-
Financial Performance Corporate Results - Petroleum BPCL net loss at Rs 20 crore Our Bureau
Mumbai , Oct. 28 BHARAT Petroleum Corporation Ltd posted a net loss of Rs 20.3 crore for the quarter ended September 30. The company had registered a net profit of Rs 32.14 crore in the corresponding period last year. BPCL's net sale during the second quarter stood at Rs 1,620.78 crore as against Rs 1,337.41 crore a year ago. However, the company fared better compared to the first quarter of the fiscal when it had suffered a net loss of Rs 43.14 crore on a net sale of Rs 1,601.56 crore. BPCL's share was down on the BSE at Rs 380.05 by Rs 7.50 from the previous close of Rs 387.55. For the first six months, the net loss for BPCL climbed to Rs 63.44 crore on net sale of Rs 3,222.34 crore; the company had made a net profit of Rs 46.87 crore on a sale of Rs 2,643.49 crore in the year-ago period. BPCL said profit for the half year was adversely affected on account of high crude oil and product purchase prices which could not be fully passed on to the consumers. The under-recovery on high speed diesel (HSD), motor spirit (MS), superior kerosene oil (SKO) and liquefied petroleum gas (LPG) was partially compensated by the upstream oil companies as advised by the Union Government. . Accordingly, during the half year, Rs 1,375 crore was accounted towards discount received for purchase of crude oil, LPG and SKO from ONGC and GAIL, the company said. Further, under arrangement for sharing of under-recovery on SKO and LPG by refineries, Rs 151.69 crore has been accounted during the quarter as discount on purchase from the refineries for the half year.
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2005, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|