BPCL Q2 net profit jumps 58% to Rs 2,589.52 cr due to lower expenses

State-run refiner Bharat Petroleum Corporation (BPCL) reported consolidated net profit at Rs 2,589.52 crore, jumping 58 per cent year-on-year on the back of lower expenses, including material and finance costs. The Covid impact lingers with refining throughput down and a 12 per cent dip in revenue.

The company expects year-on-year demand growth of petroleum products, like diesel and petrol, in the March quarter.

BPCL’s 58 per cent rise in net profit was helped by a 16 per cent drop in total expenses. Finance cost for the company was down 86 per cent, while the cost of material declined 45 per