BPCL sees Rs 61.48 billion loss in Q1

State-run Bharat Petroleum Corp (BPCL) has reportedly posted a loss of Rs 61.48 billion for the April-June quarter, in the light of a freeze on retail prices of petrol and diesel. During the same time last fiscal year, it had reported a profit of Rs 32.14 billion. Revenue from operations has surged 54% from a year earlier to Rs 130,000. The company incurred a Rs 9.66 billion foreign exchange loss due to fluctuations in the exchange rates. Its cost of materials consumed more than doubled to Rs 636.15 billion from Rs 268.05 billion. The loss comes despite market sales rising to 11.76 mt in the June quarter from 9.63 mt a year back. Also Read:Assam to be wholly free of fossil fuels by 2031, says CMTCR Engineering executing 84 gas pipeline testing projects