BPCL is one of the fastest growing state run oil marketing companies. It is created its own niche by being first among peers. Recently it has acquired a 21.1 percent stake in payment bank Fino Paytech Limited, the largest Business Correspondent in Asia.
BPCL will reap huge benefits from this investment as the bank will start expanding its operations. BPCL has posted a quite healthy growth in Q1FY19. Its profit came in at Rs 2,293.26 crore against Rs 744.56 crore on YoY basis while income increased by 23 percent at Rs 82,978.96 crore against Rs 67,422.95 crore.
GRM (gross refining margin) which indicates the difference between the cost of crude oil processed and the prices of refined products, came in at USD 7.49 per barrel, up from USD 4.88 per barrel a year ago, which clearly shows that BPCL is on a fast track of achieving better operational efficiency. On back of this numbers and reduce crude oil prices we are recommending BPCL.
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