Bharat Petroleum Corporation (BPCL), the state-owned fuel retailer’s net profit slumped 13 percent to Rs 1,842 crore for the quarter ended March 2017 compared to Rs 2,116 crore in the corresponding period a year ago on account of higher expenses which grew 27 percent for the quarter.
The fuel retailer’s income from operations increased 24 per cent to Rs 66,686 crore for the fourth quarter of last financial year (2016-17), however, the company’s expenses for the quarter also increased by 27 percent to Rs 64,482 crore.
For the full financial year 2016-17, the oil refiner recorded 18 per cent increase in consolidated profit to Rs 9,507 crore as compared to the previous financial year. Income from operations increased by 11.30 percent to Rs 2,45,795 crore for the full financial year compared to the corresponding fiscal a year ago. Read more