BPCL Q3 consolidated net rises 48% to Rs 2,805 cr, revenue rises by 35%

Company attributes strong show to normalisation of business and rising fuel demand

Bharat Petroleum Corporation (BPCL) has reported 48 per cent spurt in consolidated net profit of Rs 2,805.09 crore for the quarter ending December 31, 2021, from Rs 1,900.63 crore reported in the comparable months of the previous financial year.

Revenue from operations during the period under review surged 35 per cent to Rs 117,702.59 crore, from Rs 87,292.62 crore in the year-ago period.

Commenting on company performance, V R K Gupta, BPCL's Director Finance said, "With normalisation of business and fuel demand rising, this quarter has seen growth in market share of petrol and diesel."

A company statement said that the gross refining margins (an estimate of the gain per barrel of crude oil processed) for the three month period ending December 2021 stood at $9.68 per barrel as against $2.47 per barrel in the same months of the previous financial year.

BPCL said that it also added 419 New Fuel Stations in the quarter under review, taking their network strength to 19,667 pumps. In addition to these, it said that 107 Compressed Natural Gas (CNG) Stations were commissioned in this period taking their total strength to 794.