Hit by Covid-19 disruptions, BPCL trims FY21 capex plans to Rs 8,000 cr

Privatisation-bound national refiner Bharat Petroleum Corporation on Friday said due to the pandemic-driven disruptions, it has scaled down capex plans for FY21 to Rs 8,000 crore from Rs 12,500 crore originally planned as projects are stuck due to unavailability of skilled manpower.

The company on Thursday reported a doubling of its net income at Rs 2,076 crore in the June quarter boosted by an inventory gain of Rs 565 crore and a marketing gain of Rs 1,003 crore.

It, however, earned 39 cents on turning every barrel of crude oil into fuel as compared to a gross refining margin (GRM)