BPCL consolidated profit before tax rises 30% to Rs 3,080 crore in Q1

State-run Bharat Petroleum Corporation (BPCL), in the process of being privatised, has posted 30 per cent increase in consolidated profit before tax (PBT) for the first quarter (Q1) of 2020-21 to Rs3,080.8 crore, against Rs2,375.02 crore during the April-June period of 2019-20. 

According to the oil and gas company, the rise in profit was mainly due to inventory gain, despite a decline in sales and weak refining margin. 

However, the company’s revenue from operations saw a drop of 41 per cent for the quarter under review to Rs50,909.2 crore, compared to Rs86,412.9 crore in Q1 of the previous financial year.

The average gross