Mumbai: State-run Bharat Petroleum Corp Ltd (BPCL) reported a three-fold increase in its June quarter profit aided by strong refining margins.

Profit came in at 2,293.26 crore against 744.56 crore during the corresponding quarter last fiscal. Total income was up 23% at 82,978.96 crore against 67422.95 crore.

Average gross refining margin, the difference between the cost of crude oil processed and the prices of refined products, came in at $7.49 per barrel, up from $4.88 per barrel a year ago.

“The market sales for the quarter ended 30th June 2018 was higher at 10.97 million metric tonnes (MMT) when compared to 10.04 MMT achieved during the quarter ended 30 June 2017. The increase is mainly in petrol (5.97%), diesel- Retail (3.52%), LPG (11.01%) and aviation turbine fuel (26.43%) which is partly offset by a decrease in kerosene (-14.75%)," the company said in a press statement.

BPCL’s share fell 1.16% to 387.65 while the Sensex closed at 37,887 points, up 0.59%.