On a standalone basis, the net profit of Bharat Petroleum Corporation (BPCL) reported 31% went down to Rs 1,959.58 crore in the Oct-Dec quarter of FY23 from Rs 2,828.45 crore in the Oct-Dec quarter of FY22.

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Net revenue from operations stood at Rs 1,19,158.10 crore, up 25% YoY. Reportedly, profit before tax in the quarter remained at Rs 2,125.84 crore, down by 44% from Rs 3,806.56 crore in the Oct-Dec quarter of FY22. 

The throughput in the Oct-Dec quarter of FY23 was 9.39 million tonnes (MT). In contrast, it was 9.94 MT in Q3 FY22. On the other hand, market sales grew at 15% YoY to 12.81 MT compared to 11.15 MT in the Oct-Dec quarter of FY22. 

It is to be noted that BPCL is the second-largest Indian oil marketing company, engaged in refining crude oil and marketing petroleum products. It has achieved the coveted ‘Maharatna’ status, entering the elite club of companies having greater financial & operational autonomy. The stake held by GOI was 52.98% in BPCL at the end of the previous month.

The scrip advanced 3.15% on BSE to currently trade at Rs 345.60.