Bharat Petroleum’s net profit dips amid volatile crude prices in Q2
Bharat Petroleum reported a 22.5% decline in net profit for the second quarter, despite a 29% increase in revenue. The drop is attributed to volatile crude oil prices and increased material costs following geopolitical tensions in West Asia.
Why it matters
As a major state-owned refiner, BPCL's financial performance serves as a key indicator of the health of India's energy sector and the impact of global oil price volatility on domestic markets.
Bharat Petroleum’s net profit dips amid volatile crude prices in Q2 left A man paints the logo of oil refiner Bharat Petroleum Corp (BPCL) on a wall on the outskirts of Kochi, India. File Reuters Reuters https://th-i.thgim.com/public/incoming/vtwcxc/article71261645.ece/alternates/FREE_1200/HPCL-BPCL-haveGEOG9SU8N.3.jpg.jpg SIVARAM V FILE PHOTO: A man paints the logo of oil refiner Bharat Petroleum Corp (BPCL) on a wall on the outskirts of Kochi, India, November 21, 2019. REUTERS/Sivaram V/File Photo Bharat Petroleum’s revenues spurred 29% whilst net profit declined 22.5% on a year-over-year basis in Q2 Bharat Petroleum’s standalone net profits in the September-end quarter fell 22.5% on a year-over-year basis as volatile crude prices impacted margins following the reignited conflict in West Asia. The Mumbai-headquartered refiner’s net profit declined to ₹4,993.17 crore in the reported quarter compared to ₹6,442.5 crore in the same period last year.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in