State-owned Bharat Petroleum Corp Ltd (BPCL) today reported a three-fold rise in its first quarter net profit on higher refining margins.
Net profit in April-June at Rs 2,293.26 crore, or Rs 11.66 a share, was higher than Rs 744.56 crore, or Rs 3.79 a share, in the same period of the previous fiscal, the company said in a regulatory filing.
It earned USD 7.49 on turning every barrel of crude oil into fuel in the quarter as compared to USD 4.88 per barrel gross refining margin in the year-ago period.
Also, it turned a higher volume of 7.74 million tonnes of crude oil into fuel when compared with 6.42 million tonnes of crude throughput in April-June 2017.
Sales also went up to 10.97 million tonnes from 10.04 million tonnes.
Turnover was up over 23 per cent to Rs 82,431 crore.
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