BPCL Q2 net slides 72% to ₹2,397 crore on weak refining margins
The Hindu
BPCL's Q2 net profit drops 72% due to weak refining margins, with GRM at $4.41 per barrel.
Bharat Petroleum Corporation Ltd. (BPCL) reported second-quarter net profit plunged 72% from the year-earlier period to ₹2,397.23 crore on account of weak refining margins.
The Gross Refining Margin (GRM) was $4.41 a barrel compared with $18.49 a barrel, in the year-earlier period.
Revenue for the quarter ended September 30 grew a tad to ₹1,17,951.69 crore from . ₹1,16,594.25 crore. Debt-equity ratio as of September 30 was at 0.28x (0.32x as on September 30, 2023). The market sales for the quarter increased to 12.39 MMT in comparison with 12.19 MMT in the year-earlier period. Sales grew 1.64%, the company said. For the quarter, throughput was 10.28 MMT as compared with 9.35 MMT in year-earlier period.
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