Covid-19 impact: BPCL capital expenditure in FY21 to be nearly 27 pc lower

State run Bharat Petroleum Corporation (BPCL) has scaled down its capital expenditure in the wake of reduced project activity and lower profitability. The company will now invest about 20 per cent less in the current financial year as capital expenditure.

BPCL spent around Rs 11,000 crore as capital expenditure at a gross level in FY20.

“As the country was under lockdown, we have not spent much in April and May. We are planning to spend around Rs 8,000 to 8,500 crore for FY21,” said N Vijayagopal, director (finance) for BPCL. He added the company would have spent Rs 10,000-11,000 crore a year as capital expenditure.