FinanceAsianet Newsable
Indian OMCs BPCL, HPCL post huge losses despite strong refining margins
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Indian PSUs BPCL and HPCL reported significant net losses in Q1 FY27.
Rising crude oil prices and a weak rupee eroded their earnings.
Negative marketing margins on petrol and diesel offset strong refining margins.
Escalating LPG losses also contributed to the financial downturn.
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Rajeev Chandrasekhar / Jupiter Capital interests historically