BPCL to launch cinema halls at its petrol pumps
BPCL to launch cinema halls at its petrol pumps Bharat Petroleum Corporation (BPCL) is intending to build cinema halls at its petrol pumps, reports Economic Times. >Government`s administered pricing on petrol and diesel is prompting BPCL (Q, N,C,F)* to increase non-fuel revenues. BPCL collaborated with Cinemata, a subsidiary of Sony Entertainment Television.The pilot project will cost 10 million approximately.The movies will be shown via satellites.The company intends to open around 300 large retail outlets by 2010,depending on the success of the plan. Indian oil marketing companies Indian Oil Corp, Hindustan Petroleum Corp and BPCL together lose 1.5 billion rupees a day in revenue as they are compelled to sell fuel at lower prices even though prices of oil are trading at record highs.Companies are entering in non-core activities like opening convenience stores, food and entertainment at their retail outlets to generate revenue.
Shares of the company closed up Rs 11 , or 3.54%, at Rs 321.55. The total volume of shares traded at the BSE was 113,941.( Thursday ).
