{"id":381363,"date":"2020-10-31T08:49:31","date_gmt":"2020-10-31T03:19:31","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=381363"},"modified":"2020-10-31T09:29:29","modified_gmt":"2020-10-31T03:59:29","slug":"bpcl-q2-net-profit-jumps-58-on-refining-margins-inventory-gains","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/bpcl-q2-net-profit-jumps-58-on-refining-margins-inventory-gains\/","title":{"rendered":"BPCL Q2 net profit jumps 58% on refining margins, inventory gains"},"content":{"rendered":"<p>Privatisation-bound Bharat Petroleum Corp Ltd (BPCL) on Thursday reported 58 per cent jump in September quarter net profit on the back of inventory gains and a rise in refining margin.<\/p>\n<p>Consolidated net profit at Rs 2,589.52 crore in July-September compared to Rs 1,502.63 crore in the same period a year ago.<\/p>\n<p>&#8220;We had excellent results both physical and financial. First-quarter refinery performance was dismal due to COVID-19 lockdown. Our strategy of buying crude oil prices at low prices in May and June has resulted in substantial refinery margin,&#8221; BPCL Director (Finance) N Vijayagopal told reporters. <\/p>\n<p>The company earned USD 5.8 on turning every barrel of crude oil into fuel in the second quarter of the current fiscal as compared to a gross refining margin (GRM) of USD 3.38 per barrel.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Privatisation-bound Bharat Petroleum Corp Ltd (BPCL) on Thursday reported 58 per cent jump in September quarter net profit on the back of inventory gains and a rise in refining margin. Consolidated net profit at Rs 2,589.52 crore in July-September compared to Rs 1,502.63 crore in the same period a year ago. &#8220;We had excellent results both physical and financial. First-quarter refinery performance was dismal due to COVID-19 lockdown. Our strategy of buying crude oil prices at low prices in May and June has resulted in substantial refinery margin,&#8221; BPCL Director (Finance) N Vijayagopal told reporters. The company earned USD 5.8 [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-381363","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/381363","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=381363"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/381363\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=381363"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=381363"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=381363"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}