BPCL consolidated profit before tax rises 30% to Rs 3,080 crore in Q1
State-run Bharat Petroleum Corporation (BPCL), in the process of being privatised, has posted 30 per cent increase in consolidated profit before tax (PBT) for the first quarter (Q1) of 2020-21 to Rs3,080.8 crore, against Rs2,375.02 crore during the April-June period of 2019-20.
According to the oil and gas company, the rise in profit was mainly due to inventory gain, despite a decline in sales and weak refining margin.
However, the company’s revenue from operations saw a drop of 41 per cent for the quarter under review to Rs50,909.2 crore, compared to Rs86,412.9 crore in Q1 of the previous financial year.
The average gross refining margin during the quarter ended June 30 was $0.39 per barrel, against $2.81 per barrel during the April-June quarter of 2019.
