Signals, Powered By EquityPandit
Bharat Petroleum Corporation Limited (BPCL) reported its net profit at Rs 1,218.71 crores, posting a 48.3 per cent decline, for the July-September quarter of the fiscal year 2018-19. The company had earlier registered a net profit of Rs 2,357.40 crores in the corresponding quarter of the last fiscal period.
State-run company’s revenues from operations during the quarter under discussion surged to Rs 82,884.82 crore as against Rs 64,133.01 crores of 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 USD 5.57 USD per barrel as compared to USD 7.97 per barrel a year ago.
According to the BPCL‘s statement, “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.”
