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| Photo Credit: Reuters
Bharat Petroleum Corporation Ltd. (BPCL) reported consolidated net profit of ₹8,243.55 crore for the September quarter, a swing away from the ₹338.49 crore net lack of the year-earlier interval.
A decline although on a sequential foundation because the State-owned refiner had clocked ₹10,644.30 crore for the June quarter, the net profit got here on decrease income from operations to ₹1,16,657.34 crore (₹1,28,355.72 crore).
Expenditure, together with in direction of crude oil, at ₹1,06,295.31 crore (₹1,29,438.65 crore) was decrease, whereas throughput elevated to 9.35 million tonne (8.82 MT) throughout the quarter. Market gross sales stood at 12.19 MT (11.44 MT).
The half yearly standalone net profit of ₹19,052 crore is unprecedented in the annals of BPCL’s historical past. “This achievement will spur us to scale greater heights for advancing progress.,” chairman and MD G. Krishnakumar stated. In the year-earlier interval, the corporate had reported ₹6,567.22 crore loss.
Consolidated net profit for the April-September was ₹18,887.85 crore as in opposition to ₹6,486.43 loss in the corresponding interval of earlier fiscal.
The firm stated gross refining margins (GRM) for April-September 2023 interval exhibited resilience at $15.42/barrel, earlier than factoring the affect of Special Additional Excise Duty and Road and Infrastructure Cess levied since July 2022. The BPCL retail community includes 21,331 gas retailers and 6,245 LPG distributors.
