Riding on lower under-recoveries, state-run Bharat Petroleum Corporation (BPCL) has posted a net profit of Rs 614.1 crore for the first quarter ended June 30, against a net loss of Rs 1,066.7 crore in the corresponding previous quarter.
“Profits were mainly on lower under-recovery, which were substantial during the last year. Gross refining margin also came under pressure due to slide in global crude oil prices,” said a senior official.
