{"id":551421,"date":"2023-01-31T11:26:18","date_gmt":"2023-01-31T05:56:18","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=551421"},"modified":"2023-01-31T13:16:10","modified_gmt":"2023-01-31T07:46:10","slug":"bharat-petroleum-posts-lower-q3-profit-on-stagnant-retail-prices","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/bharat-petroleum-posts-lower-q3-profit-on-stagnant-retail-prices\/","title":{"rendered":"Bharat Petroleum posts lower Q3 profit on stagnant retail prices"},"content":{"rendered":"<p>BENGALURU: Indian oil marketing company (OMC) Bharat Petroleum Corp Ltd reported a 31% fall in quarterly profit on Monday, hurt by losses due to stagnant pump prices. <\/p>\n<p>The company&#8217;s standalone net profit dropped to 19.60 billion rupees ($240.6 million) in the third quarter ended Dec. 31, from 28.28 billion rupees a year earlier. <\/p>\n<p>The marketing under-recovery of oil marketing companies was hurt by retail prices that have remained static since April, 2022.<br \/>\nStagnant retail prices, in tandem with high crude oil prices, hurts OMCs&#8217; margins as they would not be able to recover costs for importing and refining the raw material.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BENGALURU: Indian oil marketing company (OMC) Bharat Petroleum Corp Ltd reported a 31% fall in quarterly profit on Monday, hurt by losses due to stagnant pump prices. The company&#8217;s standalone net profit dropped to 19.60 billion rupees ($240.6 million) in the third quarter ended Dec. 31, from 28.28 billion rupees a year earlier. The marketing under-recovery of oil marketing companies was hurt by retail prices that have remained static since April, 2022. Stagnant retail prices, in tandem with high crude oil prices, hurts OMCs&#8217; margins as they would not be able to recover costs for importing and refining the raw [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-551421","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/551421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=551421"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/551421\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=551421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=551421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=551421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}