By IANS
New Delhi : State-owned refiner Bharat Petroleum Corp Ltd’s (BPCL) net profit was Rs.2.9 billion in the Oct-Dec quarter of 2007-08, a decline of four percent over the same period of the previous year.
BPCL reported lower profits although its total income rose by 19.5 percent.
“The company has posted a net profit after tax of Rs.2.91 billion for the quarter ended December 31, 2007 as compared to Rs.3.03 billion for the quarter ended December 31, 2006,” BPCL said Thursday.
“Total income has increased from Rs.243.54 billion for the quarter ended December 31, 2006 to Rs.291.19 billion for the quarter ended December 31, 2007,” the company said.
Like other state-owned oil marketing companies, BPCL is also facing rising losses from sale of key fuels like petrol, diesel, liquid petroleum gas and kerosene due to the inability to hike prices in the wake of the surge in the international crude prices.