India, July 23 -- Bharat Petroleum Corporation Ltd (BPCL) on Wednesday reported a net loss of Rs 3,962 crore in the June quarter on keeping petrol, diesel and LPG prices way below cost that had soared due to the West Asia crisis.

The net loss of Rs 3,962.13 crore in April-June - the first quarter of the current 2026-27 fiscal year - compared with a profit of Rs 3,333.97 crore in the same period a year back, according to a stock exchange filing by the company.

BPCL and other state-owned fuel retailers - Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Ltd (HPCL) - held petrol and diesel prices steady for two-and-a-half months despite a more than 50 per cent surge in prices of crude oil - the raw material for making petrol...