Comments
Shares of Bharat Petroleum Corporation Ltd (BPCL) tumbled nearly 5 per cent today after the company reported 50 per cent drop in net profit for September quarter.
BPCL stock dipped 4.35 per cent to Rs 730.05 on the BSE. On the NSE, it was down 4.61 per cent to Rs 730.
BPCL had yesterday reported 50 per cent drop in net profit for the September quarter as refining margins dipped on slumping international oil prices.
Net profit in the July-September period at Rs 464.20 crore, or Rs 6.42 per share, was 50 per cent lower than Rs 931.13 crore, or Rs 12.88 a share, in the same period a year ago, the company had said in a filing to the stock exchanges.
The company earned $2.36 on turning every barrel of crude oil into product as opposed to a gross refining margin of $4.38 per barrel last year.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.