BPCL has deep pockets but its strategy makes little sense. No wonder while the markets have cheered Gandhar Oil, they aren t as gung-ho about the state-owned producer
Bpcl Stake Sale: The profit was aided by a boost in marketing margins as a freeze on petrol and diesel price revision despite a fall in input crude oil prices helped recover losses incurred when rates were high last year.
Bpcl Stake Sale: In the current quarter, the refinery throughput was 9.35 million tonnes versus 8.82 million tonnes in Q2 of FY 22-23. Market sales were 12.19 million tonnes in Q2 FY 23-24 versus 11.44 million tonnes in Q2 of FY 22-23. Sales have grown by 6.56 %.
The govt decided to call off BPCL’s disinvestment last month after interested parties could not continue due to prevailing conditions in global energy markets and the pandemic. It said the decision to reinitiate the process would be taken after reviewing the situation