BPCL Q1 net loss of Rs 3,962 crore

Bharat Petroleum Corporation Ltd (BPCL) reported a Q1 net loss of Rs 3,962 crore compared to a net profit of Rs 6,123.93 crore in the same period last year.

The loss was attributed to volatile refining margins, domestic demand weakness, and rising global crude oil prices due to the ongoing US-Iran war.

BPCL did not pass on higher costs to consumers for nearly three months by not raising fuel prices, including LPG.

BPCL stock dipped 2% on the day of the results amid rising global crude prices, while Nifty and Sensex ended lower.