BPCL posts loss of ₹1819.6 crore on inventory loss, lower GRMs

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.