BPCL net profit slumps 73% in Q1

New Delhi: State-owned Bharat Petroleum Corporation Ltd (BPCL) on Friday reported a 73 per cent drop in its net profit in the June quarter as refinery margins dropped and a fuel price reduction slashed marketing margins.

Consolidated net profit of Rs 2,841.55 crore in April-June -- the first quarter of the current 2024-25 fiscal year -- was compared to a profit of Rs 10,644.30 crore a year back, according to a stock exchange filing by the company. The company had last year made extraordinary gains from holding petrol and diesel prices despite a drop in cost.