BPCL drops after weak Q2 result

BPCL lost 3.63% to Rs 266.90 at 09:35 IST on BSE after net profit dropped 48.3% to Rs 1218.71 crore on 34.56% rise in total income to Rs 72829.83 crore in Q2 September 2018 over Q2 September 2017.

The result was announced after market hours yesterday, 29 October 2018.

Meanwhile, the S&P BSE Sensex was down 83.78 points, or 0.25% to 33,983.62

On the BSE, 2.15 lakh shares were traded in the counter so far compared with average daily volumes of 6.13 lakh shares in the past two weeks. The stock had hit a high of Rs 273.70 and a low of Rs 264.50 so far during the day. The stock hit a record high of Rs 550 on 30 October 2017. The stock hit a 52-week low of Rs 239 on 5 October 2018.

BPCL's average gross refining margin (GRM) was $5.57 per barrel in Q2 September 2018, compared with $5.57 per barrel in Q2 September 2017.

BPCL, India's Maharatna public sector undertaking, is an oil refining-cum-marketing company. The Government of India held 53.933% stake in BPCL as on 30 September 2018.

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