BPCL third quarter net profit more than doubles on inventory gains
Bharat Petroleum Corporation Ltd (BPCL) on Tuesday reported more than doubling of its net profit for the December quarter on the back of inventory gains resulting from rising oil prices.
Net profit in October-December at Rs 2,777.6 crore was 120 per cent higher than Rs 1,260.6 crore net profit in the same period a year back.
“Third quarter (of 2020-21 fiscal) has been the strongest in terms of profit before tax and profit after tax in this fiscal year. We are back to pre-COVID levels of sales,” BPCL Director (Finance) N Vijayagopal said on a media call.
