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The Economic Times
The Economic Times
Business

Top OMCs post losses with government weighing relief measures

OMCs Oil HPCL BPCL ET West Asia Petrol Nomura

State-run oil marketing companies (OMCs) Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL) reported steep losses for the April-June quarter, reflecting the impact of selling petrol, diesel and LPG below market rates as crude prices remained elevated amid the West Asia conflict.

HPCL on Wednesday reported a standalone net loss of Rs 11,526.41 crore for the first quarter, while BPCL posted a standalone loss of Rs 3,962 crore during the same period.

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