BPCL News
Oil marketing companies in red without subsidy
Within a week of announcing a rise of about 12% in petrol prices, IndianOil, HPCL and BPCL announced huge increases in their fourth-quarter profits, though on an annualised basis, the profits look paltry. The Centre's direct subsidy, coupled with burden sharing by ONGC, OIL and GAIL, pulled them out of the red.
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