Bharat Petroleum Corporation Limited (BPCL) reported their quarterly financial report with an astonishing profit rise of 208% from Rs. 744 crore of the previous fiscal year same quarter to Rs. 2293.26 crore. The state run refiner BPCL’s managed to upstream the profit levels to such high due to the inventory gains and better refining margins.

Bharat Petroleum Corporation Limited also beat the market expectations by registering a total revenue of Rs. 71,696.73 crore, 26% higher on year-on-year bases, and 9.9% incline in revenue as compared to the Rs. 65,239.31 crore of the last March-end quarter of fiscal year 2018.

The BPCL also outperformed expectations by securing a 135% rise (Y.o.Y) in EBITDA. The EBITDA (Earnings Before Interest Tax Depreciation & Amortization) for the current fiscal year quarter stands at Rs. 4423.26 crore against Rs. 1881.62 crore of previous fiscal year corresponding period.

The operating income also rose by 4% in comparison to Q4 FY18. Average gross refining margin went up at $7.49 per barrel against $6.49 of last quarter.