Financials News

BPCL’s net profit rises 26% in Q2

BPCL’s net profit rises 26% in Q2

Mumbai: State run oil marketing company Bharat Petroleum Corporation Ltd (BPCL) on Friday reported a 26 per cent rise in its standalone net profit to Rs 1,305.18 crore for the quarter ended September 30, 2016 as compared to Rs 1,034.52 crore in the year-ago period.

Its total in the quarter under review stood at Rs 55,935.54 crore, up by 4.9 per cent from Rs 53,272.73 crore in the corresponding period last year.

The oil marketing company’s crude throughput which is the total amount of crude that goes into a refinery before it comes out processed increased to 6.39 million metric tonnes (mmt) in the quarter from 5.96 mmt in the corresponding period.

The company also reported that its sales grew by 5.68 percent in the three month period ended September 30, as compared to a growth of 5.23 percent in sales during the same period last year.

It further said that the Petroleum Natural Gas Regulatory Board awarded the authorisation for laying, building, operating and expanding of a city gas distribution network in the geographical area of north Goa to the consortium of BPCL and Gail Gas Ltd.