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Bongaigaon Refineries Q3 net loss at Rs 224.09 cr
Bongaigaon Refineries and Petrochemicals has announced its third quarter results. The company's standalone net loss was at Rs 224.09 crore versus net profit of Rs 84.90 crore on QoQ basis.
Bongaigaon Refineries and Petrochemicals has announced its third quarter results. The company's standalone net sales were at Rs 1,112.07 crore versus Rs 1,462.22 crore on QoQ basis.
The company's standalone net loss was at Rs 224.09 crore versus net profit of Rs 84.90 crore on QoQ basis.
Key Factors that led to underperformance
Fall in crude prices led to inventory losses which drags margins and bottomline
Refining margins, GRM's have weakened substantially since the past quarter
Slowdown in demand for petchem's witnessed
This coupled with huge capacities being added in Asia
(specially RPL in India could lead to a further imbalance in the demand supply situation)
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