Bharat Petroleum Corporation Limited (BPCL) intends to increase its market share in the rapidly expanding domestic gasoline market by roughly two-thirds, or 14,273 pumps, by expanding its fuel retail network.
The business, which runs 25% of the fuel pumps in the nation, announced a half-yearly profit of 19,052 crore for the months of April through September. With new car sales and a rising economy driving up demand for petrol and diesel, fuel network development is moving forward quickly. This fiscal year, there has been a 6% increase in the country's consumption of petrol and diesel.
VRK Gupta, director of finance at BPCL, stated, "We have recently issued an advertisement for 14,273 new retail outlets spread across the country to capture more market and increase our presence." Advertising merely expresses the company's intentions; the real buildout will rely on dealer demand and the sites' ability to generate a profit.
Over the last five years, India's petroleum retail network has expanded by almost 40% to approximately 88,000 pumps, mostly due to the rapid expansion of state-run enterprises, while private players have remained cautious. 42% of the total pumps are operated by Indian Oil Corporation alone, which runs around 36,700 of them. Between BPCL and HPCL, about 21,300 pumps are operated. However, on average, BPCL sells more fuel and diesel from its pumps than HPCL.