BPCL net profit drops 27% to Rs 1,502 cr in June quarter; sales up 77%
Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Thursday reported 27.6 per cent drop in June quarter net profit at Rs 1,501.65 crore.
The nation’s second largest oil refiner and fuel marketing company had a net profit of Rs 2,076.17 crore in April-June 2020-21, the company said in a regulatory filing.
The profit was lower as a sharp movement in oil prices – from $19-20 per barrel to $40 – in April-June quarter of 2020 led to a spike in marketing margins. This year, the movement has been range-bound.
Revenue from operations rose to Rs 89,687.12 crore in April-June this year from Rs 50,616.92 crore last year.
