BPCL Q2 net profit slips 48% at Rs 1,219 cr; revenue from operations rises 29.2% to Rs 82,885 cr

BPCL's average gross refining margin (GRM) for the quarter ended September 2018 was $5.57 per barrel as compared to $7.97 per barrel a year ago.

Press Trust of India October 30, 2018 13:36:46 IST
BPCL Q2 net profit slips 48% at Rs 1,219 cr; revenue from operations rises 29.2% to Rs 82,885 cr

New Delhi: State-run Bharat Petroleum Corporation Limited (BPCL) on Monday posted a 48.3 percent decline in its net profit to Rs 1,218.71 crore for the second quarter ended September 2018.

The company had earned a net profit of Rs 2,357.40 crore in the same quarter a year ago.

BPCL Q2 net profit slips 48 at Rs 1219 cr revenue from operations rises 292 to Rs 82885 cr

Representational image. Reuters.

During the quarter, its revenues from operations rose to Rs 82,884.82 crore as compared to Rs 64,133.01 in the July-September period of 2017.

Total expenses of the refiner also increased to Rs 81,550.12 crore as against Rs 61,475.13 crore in the second quarter of the previous fiscal.

The average gross refining margin (GRM) for the quarter ended September 2018 was $5.57 per barrel as compared to $7.97 per barrel a year ago.

"The corporation has accounted compensation towards sharing of under-recoveries on sale of sensitive petroleum products of Rs 496.78 crore by way of subsidy for the current period (Rs 319.90 crore April-September 2017) as revenue from operations and nil under-recovery has been absorbed by the Corporation on this account during the reported periods," it said.

Updated Date:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

RIL's $15.5 bn capex to increase profits by 50% over FY15-18
Business

RIL's $15.5 bn capex to increase profits by 50% over FY15-18

Morgan Stanley said RIL's telecom venture launch is nearing, regulatory environment has improved; spectrum auction bidding was rational, and the 4G ecosystem is improving.

Govt expects about Rs 40,000 cr investment in OALP-II bid round; 14 blocks put up for auction: Oil minister
Business

Govt expects about Rs 40,000 cr investment in OALP-II bid round; 14 blocks put up for auction: Oil minister

India had in July 2017 allowed companies to carve out blocks of their choice with a view to bringing about 2.8 million sq km of unexplored area in the country under exploration.

Indian Oil Corp to decide on bidding for BPCL after govt lays out rules, says Chairman Sanjiv Singh
Business

Indian Oil Corp to decide on bidding for BPCL after govt lays out rules, says Chairman Sanjiv Singh

Indian Oil Corp (IOC), the country's biggest oil firm, will decide on bidding to buy Bharat Petroleum Corporation Ltd (BPCL) after the government lists out rules for the stake sale, its Chairman Sanjiv Singh said Thursday