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    BPCL   INE029A01011

BHARAT PETROLEUM CORPORATION LIMITED

(BPCL)
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Delayed NSE India Stock Exchange  -  07:25 2022-09-23 am EDT
311.95 INR   -1.23%
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Monsoon rains dampen India's July fuel demand

08/01/2022 | 04:07am EDT
FILE PHOTO: A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai

NEW DELHI (Reuters) - Gasoline and gasoil sales by Indian state refiners in July fell from a month earlier as monsoon rains restricted mobility and construction work while high inflation curtailed overall demand for goods, preliminary sales data shows.

Fuel demand in India, the world's third biggest oil importer and consumer, typically falls during the four-month monsoon season beginning in June as parts of the country are hit by heavy floods.

Gasoil demand in July fell by about 16% to 6.42 million tonnes while gasoline demand fell by about 8% to 2.66 million tonnes, the data showed.

"Monsoon rains along with high inflation had hit truck mobility and demand for goods in the country. Truck mobility was down by about 15%-20% in July," said S.P. Singh, senior fellow at the Indian Foundation for Transport Research and Training.

Monsoon rains also affected demand from the agriculture sector as farmers use gasoil-fired gensets for irrigation.

Gasoil accounts for about two-fifths of India's overall refined fuel consumption and is directly linked to industrial activity in Asia's third-largest economy.

State retailers Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp Ltd own about 90% of the country's retail fuel outlets.

Below is a table of India's preliminary fuel sales data with volumes in thousand tonnes.

Refined Fuel July % chg % chg % chg vs

2022 from June yr/yr July 2020

Gasoline 2661.9 -8.02 12.2 31.3

Gasoil 6422.1 -15.95 17.7 32.4

Jet Fuel 533.6 -4.25 79.0 137.4

Liquefied 2465.5 5.22 4.14 8.4

Petroleum Gas

(Reporting by Nidhi Verma; editing by Jason Neely)

By Nidhi Verma


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BHARAT PETROLEUM CORPORATION LIMITED -1.23% 311.95 Delayed Quote.-19.07%
HINDUSTAN PETROLEUM CORPORATION LIMITED -1.58% 226.85 Delayed Quote.-22.40%
INDIAN OIL CORPORATION LIMITED -0.52% 67.45 Delayed Quote.-9.26%
LONDON BRENT OIL -3.99% 86.71 Delayed Quote.15.96%
S&P GSCI GAS OIL INDEX -4.47% 857.5401 Real-time Quote.38.69%
WTI -5.01% 79.304 Delayed Quote.5.25%
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Financials
Sales 2023 4 437 B 54 697 M 54 697 M
Net income 2023 67 029 M 826 M 826 M
Net Debt 2023 677 B 8 349 M 8 349 M
P/E ratio 2023 9,84x
Yield 2023 4,71%
Capitalization 677 B 8 342 M 8 342 M
EV / Sales 2023 0,31x
EV / Sales 2024 0,31x
Nbr of Employees 8 594
Free-Float 45,2%
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Number of Analysts 31
Last Close Price 311,95 INR
Average target price 398,43 INR
Spread / Average Target 27,7%
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Arun Kumar Singh Chairman & Managing Director
Ramakrishna Gupta Vetsa CFO, Finance Director, Director & Head-Treasury
P. Anilkumar Executive Director-Information Systems
Ravikumar V. Chief General Manager-Research & Development
Chacko M. Jose Chief General Manager-Kochi Refinery Operations
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