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BPCL's June quarter profit up 11% on inventory gains

The company's total expenses also fell 4% to Rs 53,528 cr in the June quarter, from Rs 55,553 cr in the year-ago quarter

Amritha Pillay  |  Mumbai 

Bharat Petroleum Corporation (BPCL)’s net profit for the April-June 2016 quarter rose 11 per cent to Rs 2,620.5 crore, year-on-year, even as the state-run firm’s total income from operations fell three per cent to Rs 57,016 crore from Rs 58,768 crore a year ago. Total expenses for the quarter under review also fell four per cent to Rs 53,528 crore from Rs 55,553 crore in the year-ago quarter.

Overall, the company exceeded Street expectations. In a Bloomberg poll, 16 analysts had estimated BPCL’s standalone sales at Rs 51,285 crore while 22 analysts had estimated a net ...

First Published: Thu, September 01 2016. 00:23 IST

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