Bharat Petroleum Corporation Limited (BPCL) on January 30 reported a consolidated net profit of Rs 1747.01 crore for the December quarter of the financial year 2022-23, down 36.67 percent from Rs 2,758.89 crore a year ago.
Revenue from operations came in at Rs 1,33,347.51 crore, rising 13.48 percent from Rs 1,17,497.69 crore in the corresponding quarter of the previous year, the company said in an exchange filing.
The company said market sales for the nine months ended 31st December 2022 was 36.01 million metric tonnes (MMT) as compared to 30.69 MMT for the nine months ended 31 December 2021. Increase is mainly due to ATF (71.77 percent), HSD-Retail (28.50 percent) and MS-Retail (19.97 percent).
The Average Gross Refining Margin (GRM) of the Corporation for nine months ended 31 December 2022 was $20.08 per barrel (against April-Dec 2021: $6.98 per barrel).
The company said it was before factoring the impact of Special Additional Excise Duty and Road & Infrastructure Cess, levied with effect from July 1, 2022. However, the suppressed marketing margins of certain petroleum products have offset the benefit of higher GRM, it added.
Operating margin of the company came in at 1.26 percent against 2.64 percent in the year ago period. Net profit margin also slid to 1.47 percent from 2.41 percent.
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