 "As market price of crude oil rises, refiners like BPCL that bought existing stock at a cheaper rate ended up selling it higher, resulting in inventory gains.")
Bharat Petroleum Corporation (BPCL) shares saw profit booking and slipped around 1 per cent to Rs 417.5 on the BSE on Friday after the company reported 30 per cent year-on-year (YoY) jump in its consolidated pre-tax profit to Rs 3,080.8 crore for June quarter of FY21. The company had posted profit-before-tax of Rs 2,375.02 crore during the April-June period of 2019-20.
Besides, privatisation-bound BPCL reported nearly doubling of standalone net profit in the June quarter after inventory gains offset a decline in refining margins and fuel sales. The standalone profit stood at Rs 2,076.17 crore compared with Rs 1,075.12
Besides, privatisation-bound BPCL reported nearly doubling of standalone net profit in the June quarter after inventory gains offset a decline in refining margins and fuel sales. The standalone profit stood at Rs 2,076.17 crore compared with Rs 1,075.12
