India: Bharat Loses Rs 3,229 Crore in Q2
|
|
|
|
Tuesday, 01 November 2011 |
State-run retailer Bharat Petroleum Corporation has posted a substantial net loss in the second quarter of its financial year, which ended in September. The company reported losses of Rs 3,229 crore, a reversal from net profit of Rs 2,142 crore in the same period last year.
The figure came directly from shrinking margins on selling gasoline, as net sales increased actually 19.40% from last year to Rs 42,282 crore. "The results for the quarter has been adversely affected due to impact on account of high crude oil and product prices which could not be fully passed on to consumers," said the company.
PetrolWorld 01112011
|
