India, April 29 -- Bharat Petroleum Corporation Ltd (BPCL) posted a standalone net profit of Rs.4,391 crore for the January-March quarter (Q4 FY25), marking an 8% decline compared to the same period last year. The company attributed the hit to substantial losses from selling domestic liquefied petroleum gas (LPG) below cost.

BPCL reported an average Gross Refining Margin (GRM) of $6.82 per barrel for FY25, a significant decline from $14.14 per barrel in FY24.

These numbers are calculated before accounting for the Special Additional Excise Duty and Road & Infrastructure Cess, which have been in effect since July 1, 2022.

BPCL explained that it did not recognise the Rs.10,446.38 crore loss on LPG sales as revenue, citing a directive from...