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BPCL Announces Tepid Q1 Results

Gasoil News - Published on Tue, 13 Aug 2019

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Bharat Petroleum Corp posted a 53 per cent decline in net profit at INR 1,075 crore for the first quarter ended June 2019. The company had posted a net profit of INR 2,293 crore in the corresponding quarter last fiscal. The drop in profit came despite a 4.11 per cent increase in revenue from operations at INR 85,860 crore. It said “The Average Gross Refining Margin (GRM) of the Corporation during the quarter ended 301 h June 2019 is USD 2.81 per barrel (April-June 2018 USD 7.49 per barrel).”

It added market sales during the first quarter of the current financial year increased 1.28 per cent to 11.11 million tonne, as compared to 10.97 million tonne reported in the same period last fiscal.

BPCL's refinery throughput during the quarter dropped to 7.45 million tonne from 7.74 million tonne reported in the corresponding quarter.

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Posted By : Rabi Wangkhem on Tue, 13 Aug 2019
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