BPCL's Profits Climb Amid Declining Revenue

State-owned Bharat Petroleum Corporation Ltd reported a 20% increase in net profit for the December quarter, with profits reaching Rs 3,805.94 crore. Despite quarterly and annual gains, revenue declined to Rs 1.27 lakh crore due to falling oil prices.

Bharat Petroleum Corporation Ltd (BPCL), a state-owned enterprise, has reported a notable 20% rise in net profit for the December quarter due to improved margins.

The oil giant's consolidated net earnings soared to Rs 3,805.94 crore during this fiscal period, rising from last year's Rs 3,181.42 crore, as per the company's stock exchange filing.

Quarter-on-quarter performance also improved, surpassing the Rs 2,297.23 crore mark seen in the July-September period. Despite these profit gains, the revenue from operations dropped to Rs 1.27 lakh crore, down from 1.3 lakh crore in the previous year, attributed to falling oil prices.

(With inputs from agencies.)