MUMBAI : State-run refiner Bharat Petroleum Corporation (BPCL) today posted a consolidated loss of ₹1,819.6 crore for the quarter ended March 2020 on inventory loss and lower gross refining margin.
The second largest fuel retailer had reported a profit at ₹2,051.4 crore in previous quarter. In a press statement the company said changes in inventories of finished goods, stock-in-trade and work-in-progress came in negative at ₹(3,036.42) crore during the quarter against ₹3,646.4 crore in previous quarter, following steep correction in global oil prices.
Company's gross refining margin or what it makes from turning every barrel of crude into finished product, came in at $2.50 per barrel against $4.58 per barrel during the corresponding