NEW DELHI: Bharat Petroleum Corporation (BPCL) on Monday saw an 82 per cent jump in its December quarter net profit on the back of higher-than-expected refining margins and a rise in margins on fuel sales.
Its consolidated net profit of Rs 3,181.42 crore in Oct-Dec Q3 of the current fiscal year, compares to Rs 1,747.01 crore earnings in the same period of the previous financial year. Its profit was, however, lower than Rs 8,243.55 cr earnings in the preceding quarter (July-Sept 2023).
The continuing freeze in fuel prices, which is now 21 months old, despite a fall in input raw material (crude oil) prices helped raise marketing margins. BPCL earned an estimated $13.3 on turning every barrel of crude oil into fuel during Oct-Dec.