In the previous corresponding quarter, the company had posted a net profit of Rs 3149.28 crore. The Q2 net loss has, however, narrowed sharply from a loss of Rs 6,147.94 crore recorded in the June 2022 quarter.
Consolidated revenue from operations stood at Rs 1,28,355.72 crore in Q2FY23 up from ₹1,01,938. 72 crore in the same quarter last year. Q2 revenue, however, was lower than ₹1,38,424.50 crore recorded in Q1FY23.
BPCL’s market sales for the half year that ended September 30, 2022, was at 23.20 MMT as compared to 19.54 MMT in the corresponding period a year ago. The sales were driven by MS-Retail (24.70%), HSD-Retail (29.78%), and ATF (97.72%).
The company’s average Gross Refining Margin (GRM) for H1FY23 stood at $22.30 per barrel compared to $ 5.23 per barrel in H1FY22.
BPCL said, this is before factoring in the impact of special additional excise duty and road and infrastructure cess, levied with effect from 1st July 2022. However, the suppressed marketing margins of certain petroleum products have offset the benefit of higher GRM.
BPCL’s shares closed at Rs309.60 apiece up by 2.65% on the BSE Monday.
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