Privatisation-bound BPCL’s net profit almost doubles to Rs 2,076 cr in Q1
Privatisation-bound Bharat Petroleum Corp Ltd (BPCL) on Thursday reported nearly doubling of net profit in the June quarter after inventory gains offset a decline in refining margins and fuel sales.
Standalone net profit in April-June stood at Rs 2,076.17 crore compared with Rs 1,075.12 crore a year back, the company said in a regulatory filing.
The company earned $0.39 on turning every barrel of crude oil into fuel as compared to a gross refining margin (GRM) of $2.81 a barrel in the same period of the previous year.
Fuel sales in the quarter that saw economic activity coming to a halt due to nationwide Covid-19 lockdown slipped to 7.53 million tonnes when compared to 11.11 million tonnes sales last year.
