Bharat Petroleum’s net profit dips amid volatile crude prices in Q2

Bharat Petroleum’s net profit dips amid volatile crude prices in Q2 left A man paints the logo of oil refiner Bharat Petroleum Corp (BPCL) on a wall on the outskirts of Kochi, India. File Reuters Reuters SIVARAM V FILE PHOTO: A man paints the logo of oil refiner Bharat Petroleum Corp (BPCL) on a wall on the outskirts of Kochi, India, November 21, 2019. REUTERS/Sivaram V/File Photo Bharat Petroleum’s revenues spurred 29% whilst net profit declined 22.5% on a year-over-year basis in Q2 Bharat Petroleum’s standalone net profits in the September-end quarter fell 22.5% on a year-over-year basis as volatile crude prices impacted margins following the reignited conflict in West Asia.

The Mumbai-headquartered refiner’s net profit declined to ₹4,993.17 crore in the reported quarter compared to ₹6,442.5 crore in the same period last year. No logistical challenges if lower ethanol blend is introduced: Bharat Petroleum chief No logistical challenges if lower ethanol blend is introduced: Bharat Petroleum chief Discussions on re-introducing the E10 variant gathered steam after Chief Economic Advisor V.

Anantha Nageswaran's recent observation to explore such a possibility No logistical challenges if lower ethanol blend is introduced: Bharat Petroleum chief storyline 1 The state-owned oil-marketing company’s cost of materials consumed soared 44.2% during the period to ₹74,969 crore. Revenues increased about 30% on a year-over-year basis to more than ₹1.58 lakh crore. The refiners’ physical performance reported an uptick.

It rose 6% during the mentioned period to 10.41 million metric tonnes (MMT). Domestic sales grew about 6.33% to 13.47 MMT. Also read | Strike by lorry drivers at BPCL depot in Salem withdrawn Its peer Hindustan Petroleum had reported a 9% decline in standalone net profits on Thursday. Delhi-headquartered peer Indian Oil is scheduled to post their September-end financial results on October 30.