New Delhi: State-owned Bharat Petroleum Corp Ltd (BPCL) on Monday reported more than doubling of its September quarter net profit on back of higher refining margins.
Net profit in July-September was at Rs 1,018.04 crore compared with Rs 464.2 crore net profit in the same period a year ago, the company said in a filing to the stock exchanges.
Turnover, however, fell to Rs 47,160.05 crore in the second quarter from Rs 62,280.28 crore as oil prices fell.
The company earned USD 3.87 on turning every barrel of crude oil into fuel as opposed to USD 1.48 in the corresponding quarter of last fiscal.
Profits also got a boost from other incomes rose to Rs 686.5 crore in the second quarter from Rs 330 crore while tax expenses were down 57.5 percent to Rs 476 crore.
The company processed 5.96 million tonne of crude during the quarter as compared to 6.09 million tonne in year-ago period.
BPCL’s shares closed 1.05 percent higher at Rs 905.50 apiece compared to a 0.49 percent fall in the broader Nifty.