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BPCL quarterly profit dives 77 percent but tops estimates

Reuters 

(Reuters) - India's Bharat Petroleum Corp Ltd reported on Friday a 77 percent plunge in third-quarter net profit, dragged down by higher expenses including raw material costs. Profit came in at 4.95 billion rupees ($69.42 million) in the three months ended Dec. 31, compared with 21.44 billion rupees a year earlier, the state-run company said.However, it beat analysts' estimate of a profit of 457.8 million rupees, according to Refinitiv Eikon data.India's state-owned oil companies were forced to take a price cut in October as the government wanted to cushion the impact of high crude oil price ...

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First Published: Fri, February 08 2019. 17:54 IST
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