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BPCL Q1 profit plunges 72% to Rs 745 crore, misses estimates

The state-run refiner total expenses in the quarter jumped 24% to Rs 66,309 crore

Reuters 

BPCL Q1 profit plunges 72% to Rs 745 crore, misses estimates

State-run refiner Bharat Petroleum Corporation Limited (BPCL) on Friday reported a 72% plunge in first-profit, missing analysts' estimates.

Profit fell to Rs 745 crore ($116.18 million), for the three months ended June 30, from Rs 2,621 crore a year ago, the company said.

Analysts on average had expected the company to post a quarterly profit of Rs 1,406 crore, according to Thomson Reuters data.

Total expenses in the jumped 24% to Rs 66,309 crore.

June-gross refining margin, or profit earned on each barrel of crude processed, slipped to $4.88 per barrel, compared with $6.09 per barrel in the same period last year.

 

($1 = Rs 64.1250)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Fri, August 11 2017. 19:10 IST
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