BPCL slips over 2% as Q2 PAT falls to Rs 931 crore

MUMBAI: Oil marketing company, BPCL’s net profit fell sharply to Rs 931 crore for the quarter ended September 2013, down 81.5 per cent, as compared to a net profit of Rs 5,034.8 crore in the corresponding quarter last fiscal.

Net sales for the quarter rose to 61,757.4 crore, up 8.6 per cent, against Rs 56,859.5 crore in the corresponding quarter last fiscal.

Crude throughput increased to 6.04 mmt againt 5.94 mmt, Y-o-Y. Average GRMs for the first half of the year were lower at $4.38 per barrel vs $4.55 per barrel, Y-o-Y.

In an interview to ET Now, S Varadarajan, Chairman & Managing Director, BPCL, said the GRMs at $4.65 per barrel for the quarter were lower than year-ago period. He expects similar trends for GRMs going forward and sees crude prices prevailing between $105-110 per barrel.

At 02:15 p.m.; the stock was at Rs 332.65, down 2.12 per cent, on the BSE. It touched a high of Rs 343 and a low of Rs 329.05 in trade today.