State-owned Bharat Petroleum Corporation (BPCL) on Monday reported consolidated net profit of Rs 1,747 crore for Q3FY22, down 36% from Rs 2,579 crore reported a year ago, the company said in an exchange filing.
The net profit is supported by reduction in crude oil prices.
BPCL’s revenue from operations rose 13% to Rs1.33 trillion during the quarter from Rs 1.17 trillion in the same quarter of the previous year.
On a standalone basis, the company reported a net profit of `1959.58 crore, 31% lower year-on-year, during Q3.
BPCL market sales have risen to 12.81 million metric tonne (MMT) in Q3 FY22 from 11.15 MMT in the same quarter of the previous year. The company said market sales for the nine months ended December 2022 were 36.01 MMT against 30.69 MMT for the same period of the previous fiscal. The increase was mainly due to ATF (71.77%), HSD-Retail (28.50%) and MS-Retail (19.97%).
BPCL reported refinery throughput of 9.39 MMT in the quarter ending December 31, 2022, against 9.94 MMT in the same quarter last year. However, refinery throughput increased to 27.90 MMT for the nine months ending December 2022, against 26.75 MMT in the nine months ending December 2021. Average gross refining margin for the nine months ended December 2022 was $20.08 per barrel against $6.98 per barrel in the year-ago period.