Bharat Petroleum Corporation (BPCL) on Tuesday announced that the Government of India has called off the present Expression of Interest (EoI) process for strategic disinvestment of the company.
BPCL stated that all the activities in connection with the disinvestment including the data room were being discontinued.
BPCL is the second largest Indian oil marketing company, engaged in refining of crude oil and marketing of petroleum products, with a significant presence in the upstream and downstream sectors of the oil and gas industry. The Government of India holds 52.98% stake in BPCL as of 31 March 2022.
The PSU company reported a 82.2% fall in standalone net profit to Rs 2,130.53 crore on 41.5% surge in net sales to Rs 108,773.57 crore in Q4 FY22 over Q4 FY21.
Shares of BPCL rose 0.28% to Rs 320.30 on the BSE.
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