State-run Bharat Petroleum Corporation (BPCL) on Friday reported a consolidated net profit of 8,244 crore in the July-September quarter this fiscal year from a net loss of Rs 338 crore.
However, on a sequential basis, the oil marketing company’s net profit declined from Rs 10,644 crore in Q1 FY24.
The company’s revenue from operations fell to Rs 1.17 lakh crore in Q2 FY24 from Rs 1.28 lakh crore each in Q1 FY24 and Q2 FY23.
The company’s gross refining margins (GRM) for the period April-September 2023 was $15.42 per barrel Vs $22.30 in the corresponding comparative period before factoring in the impact of Special Additional Excise Duty and Road & Infrastructure Cess, levied from July 1, 2022.
In Q2 FY24, the throughput was 9.35 million tonnes (MT) against 8.82 MT in Q2 FY23. Market Sales were 12.19 MT in Q2 FY24 compared to 11.44 MT in Q2 FY23.
During April to September 2023, the throughput was 19.71 MT against 18.51 MT in the comparative period. The market sales during the same period increased to 24.94 MT from 23.20 MT in the comparative period (a growth of 7.50 per cent).
“We have achieved our highest ever Average Ethanol Blending percentage of 11.98 per cent during H1 FY24,” the company said.
BPCL added 300 New Fuel Stations in H1 FY24, taking its overall network strength to 21,331. The company-owned operated outlet’s network increased to 338 with 11 additions during H1 FY24.
BPCL added 14 new distributors in H1 FY24, taking LPG distributor network strength to 6,245, and the customer base increased to 9.23 crore. The CNG Stations commissioned in H1 FY24 stood at 44, taking the total number of CNG stations to 1,640 as of September 2023.