BPCL falls; refining below expectations

Reuters Market Eye - Bharat Petroleum Corp falls 3.5 pct. September quarter profit fell by about 50 pct to 4.64 bln rupees.

Refining performance below expectations, say analysts.

Average gross refining margins for half year ended Sept $2.36 per barrel and gross refining margin for quarter ended June was $3.38 per barrel, according to company filing.

Results benefited mainly due to under-recovery compensation from government, say traders.

(Reporting by Abhishek Vishnoi)