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BPCL Q3 Results: Net profit falls 36% YoY to Rs 1,747 crore – Economic Times

State-owned Bharat Petroleum Corporation Ltd () reported consolidated net profit of Rs 1,747 crore for the December quarter — a fall of 36% when compared with Rs 2,579 crore of the same quarter last year.

On Monday, ahead of the results, BPCL stock closed 0.13% higher at Rs 337 apiece on NSE.

Meanwhile, revenue from operations rose 13% to Rs 1.33 lakh crore in the three months ended December, compared with Rs 1.17 lakh crore in the last-year period.

Segment wise, revenue from downstream petroleum stood at Rs 1.33 lakh crore, compared with Rs 1.17 lakh crore last year, while that from exploration and production of hydrocarbons stood at Rs 35 crore during the quarter under review.

Other income for the Decemeber quarter came in at Rs 339 crore, down about 42%, compared with Rs 586 crore a year ago.

The company’s refining throughput during the quarter stood at 9.39 (MMT) as against 9.94 in the same quarter of last year.

On a standalone basis, the company’s EBITDA came in at Rs 4,234 crore, with margins at 3.6%.BPCL’s privatisation was stalled after two out of three bidders walked out over issues like lack of clarity in fuel pricing. Mining mogul Anil Agarwal’s Vedanta, US venture funds Apollo Global Management Inc and I Squared Capital Advisors had expressed interest.

The government in May last year formally withdrew its offer to sell its entire stake in BPCL after majority of bidders expressed their inability to participate in the privatisation process.

During the quarter, BPCL has recognised an impairment loss of Rs 20 crore after infra group elimination.

BPCL’s market sales for the quarter ended December stood at 12.81 MMT as compared to 11.12 MMT in the corresponding period a year ago.