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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


State-run refiner Bharat Petroleum Corporation Limited (BPCL) on Friday reported a 72% plunge in first-quarter 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 quarter jumped 24% to Rs 66,309 crore. June-quarter gross refining margin, or profit earned on each barrel of crude processed, slipped to $4.88 ...

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