BPCL to turn around in first quarter of current fiscal after dismal Q4: Analysts
Analysts expect state-run oil marketing company (OMC) Bharat Petroleum Corporation (BPCL) to report high auto fuel margins, gross refining margin (GRM) and inventory gains in Q1FY21, as the company made super normal margins in the first two months of the quarter by keeping retail petrol and diesel prices unchanged amid a global fall in oil prices. This is encouraging for the company, which reported a net loss of Rs 1,361 crore on a standalone basis for the three months ended March 31, against a profit of Rs 3,125 crore in the same period a year ago.
Analysts at ICICI Securities estimates that BPCL’s reported net auto fuel marketing margin will stand at a record level of Rs 5/litre, 2.8 times more than what was reported in Q1FY20.
