BPCL back in black with net profit at ₹8,501 crore in Q2

State-owned Bharat Petroleum Corporation Ltd (BPCL) on Friday (October 27) reported a consolidated net profit of ₹8,501.2 crore for the second quarter that ended September 30, 2023.

In the corresponding quarter last year, BPCL posted a net loss of ₹304 crore, the company said in a regulatory filing.

The Average Gross Refining Margin (GRM) of the BPCL for the half year ended September 30, 2023, is $15.42 per barrel compared to $22.30 per barrel in the year-ago period, it said.

Other expenses for the half year ended September 30, 2023, include ₹103.30 crore compared to ₹1,549.62 crore in the year-ago period, on account of foreign exchange loss.

The results came after the close of the market hours. Shares of Bharat Petroleum Corporation Ltd ended at ₹334.50, down by ₹0.45, or 0.13%, on the BSE.