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Chennai, July 28 Bharat Petroleum Corporation Ltd has posted a loss of Rs 1,066.7 crore in the first quarter of this financial year compared to a profit of Rs 192.7 crore in the same period last year. Net sales were up 63 per cent at Rs 39,022 crore against Rs 23,869.4 crore for the first quarter of last year.

The company has said performance for the quarter was adversely affected due to impact on account of high crude oil and product prices, which could not be fully passed on to the consumers.

The company’s gross refining margin for the quarter ended June 30, 2008 was $9.29 a barrel ($6.50 a barrel) for the Mumbai refinery and $18.65 a barrel ($7.97 a barrel) for the Kochi refinery. BPCL achieved a crude throughput of 4.97 million tonnes for the quarter against 5.15 million tonnes for the corresponding period last year, while market sales were up 6.96 million tonnes from 6.33 million tonnes for the first quarter of last year.

BPCL’s Rs 10 shares closed at Rs 325.90 on the NSE today, a 2 per cent gain over the previous close.

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