BPCL net up 11% in Q1

Government-owned Bharat Petroleum Corporation Ltd reported net profit of ₹2,620.5 crore for the June 2016 quarter, up 11 per cent from a profit of ₹2,360 crore reported in June last year. The oil refiner and retailer managed throughput of 6.2 million tonnes for the quarter and sales of 9.73 mt, up 8 per cent year-on-year. The gross refining margin (the difference between the cost of crude oil and the selling price of refined products) for the period was $6.09 a barrel. More significantly, the company incurred ₹166.26 crore on foreign currency transactions and translations, against ₹53 crore under the same head in the year-ago period.