BPCL privatisation expected to be completed by March
PSU oil marketing major BPCL expects privatisation to take place by March 2021, Reuters reported, citing a company executive. The executive said that FY21 capex target has been reduced to ₹8000 crore from ₹12500 crore earlier.
The executive said that sales in August so far is now 90% of year ago level so far August. BPCL plans to add more than 1000 fuel stations in FY21.
Privatisation-bound Bharat Petroleum Corp Ltd (BPCL) on Thursday reported nearly doubling of net profit in the June quarter after inventory gains offset a decline in refining margins and fuel sales.
Standalone net profit in April-June stood at ₹2,076.17 crore compared with ₹1,075.12 crore a year back, the company said in a regulatory filing.
