Higher under recoveries made state-run Bharat Petroleum Corporation Limited (BPCL) post a 49 per cent increase in its net loss at Rs 2,561.8 crore for the quarter ended June 30.
The company posted a net loss of Rs 1,718 crore for the corresponding previous quarter.
Net under-recovery for the company was up at Rs 3,356 crore during the first quarter, from Rs 1,584 crore of the previous year with the company currently losing about Rs 4 per litre on diesel, Rs 23 a litre on kerosene and Rs 274 per 14.2-kg LPG cylinder.
BPCL's gross refining margin (turning every barrel of crude oil into petroleum products) during the quarter, stood at $3.02 per barrel against $3.57 per barrel in the corresponding previous quarter.
Net sales for the company increased from Rs 34,553 crore to Rs 46,566 crore, an increase of 35 per cent.
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