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BPCL Partner with Oil India for Arunachal Gas Project

Bharat Petroleum Corporation Limited (BPCL) announced board approval for a joint venture (JV) agreement with Oil India Ltd to develop a city gas distribution project in Arunachal Pradesh, with discussions held on October 25, 2024.

 

Following the required approvals, BPCL and Oil India will each hold a 50% stake in the JV. The Arunachal Pradesh government may also receive up to a 10% share if interested, with BPCL and Oil India adjusting their equity equally.

 

The proposed JV company will have an authorized share capital of Rs. 125 crore, with 12.5 crore shares valued at Rs. 10 each. An initial issued, subscribed, and paid-up capital of Rs. 5 crore is set for the JV.

 

For the July-September quarter, BPCL posted a net profit of Rs. 2,397 crore, marking a 20.5% decline compared to the previous quarter. Revenue for the quarter reached Rs. 1.03 lakh crore, and down 9.1% from the June quarter. BPCL’s EBITDA was reported at Rs. 4,547 crore, reflecting a 19.5% decrease from the previous quarter. The EBITDA margin stood at 4.4%.

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