BPCL third-quarter profit slips 6%
Bengaluru: State-run refiner Bharat Petroleum Corp. Ltd (BPCL) on Friday posted a near 6% fall in third-quarter profit, but still marginally beat analysts’ estimates.
Profit for the quarter ended 31 December stood at Rs2,144 crore ($332.93 million) compared with Rs2,272 crore last year, the company said in a filing.
Analysts on average had expected the refiner to post a profit of Rs2,118 crore, Thomson Reuters Eikon data showed.
Average gross refining margin, the difference between the cost of crude oil processed and the prices of refined products, rose to $7.89 per barrel for the quarter ended 31 December, from $5.90 per barrel in the same period last year.
Revenue from operations for the quarter rose 9.5% to Rs70,195 crore.