BPCL’s net profit up 22% for April-June quarter

State-run Bharat Petroleum Corporation Limited (BPCL) on Thursday posted 21.6% rise in consolidated net profit at ₹2,187.74 crore for the April-June quarter of this fiscal against ₹1,799.59 crore a year ago.

Revenues from operations fell 41.09% to ₹50,909.24 crore during the quarter from ₹86,412.87 crore in the same period of last fiscal.

In a statement, BPCL said the quarter witnessed lower refinery throughput and revenue from operations which was mainly due to lower demand of petroleum products.

As the economy re-opens gradually, the company expects the refinery throughput and revenue from operations to improve and reach normal levels.