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Privatisation-bound BPCL's net profit almost doubles to Rs 2,076 cr in Q1

Standalone net profit in April-June stood at Rs 2,076.17 crore compared with Rs 1,075.12 crore a year back, the company said in a regulatory filing

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Company officials said the rise in profit was primarily due to inventory gains resulting from the valuation of inventory held rising because of a pick up in oil prices in the later half of the quarter

Press Trust of India New Delhi

2 min read Last Updated : Aug 13 2020 | 7:16 PM IST

Privatisation-bound Bharat Petroleum Corp Ltd (BPCL) on Thursday reported nearly doubling of net profit in the June quarter after inventory gains offset a decline in refining margins and fuel sales.

Standalone net profit in April-June stood at Rs 2,076.17 crore compared with Rs 1,075.12 crore a year back, the company said in a regulatory filing.

The company earned $0.39 on turning every barrel of crude oil into fuel as compared to a gross refining margin (GRM) of $2.81 a barrel in the same period of the previous year.

Fuel sales in the quarter that saw economic activity coming to a halt due to

Topics : Coronavirus Lockdown BPCL privatisation Q1 results PSU divestment PSU sales Crude Oil Price LPG