Bharat Petroleum Corporation (BPCL) has raised Rs 550 crore through private placement of secured non-convertible debentures (NCDs) at a coupon of 7.35% p.a. payable semi-annually with a door-to-door maturity of 5 years. The proceeds will be utilized for funding of Capital Expenditure of the Company, including recoupment of expenditure already incurred.

BPCL has reported 47.04% rise in its net profit at Rs 2271.94 crore for the quarter ended December 31, 2016, as compared to Rs 1545.15 crore for the same quarter in the previous year. Total income of the company increased by 20.73% at Rs 64646.70 crore for the quarter under review as compared Rs 53545.79 crore for the corresponding quarter previous year.