BPCL Q2 net rises 2.68% on lower tax

Bharat Petroleum Corporation Limited (BPCL) has reported a 2.68% increase in its second quarter net profit to ₹1,502.63 crore on lower tax outgo. The rise in profits was reported in spite of a 9.65% fall in revenue to ₹75,627.99 crore.

Tax expenses during the quarter stood at ₹167.13 crore compared to tax outgo of ₹910.13 crore in the year ago period.

The oil marketing company sold 10.31 million tonnes of refined products compared to 10.13 million tonnes in the year ago period. BPCL’s refining throughput during the quarter stood at 9.25 million tonnes compared to 8.75 a year earlier.

BPCL’s shares on the BSE fell 2.08% to close at ₹512.80 in a firm Mumbai market on Thursday.

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