Suryaa Business Desk: Surya Corporate & Energy Desk, Mumbai: State-owned oil refining and marketing giant Bharat Petroleum Corporation Limited (BPCL) reported its September quarter... Surya Corporate & Energy Desk, Mumbai: State-owned oil refining and marketing giant Bharat Petroleum Corporation Limited (BPCL) has shown an unexpected recovery in its September quarter financial results. Surviving from the huge losses recorded in the previous quarter (Q1), the consolidated revenue was Rs. 4,993.17 crore net profit which surprised investors. The company's operating profit also saw a strong improvement as refining and marketing margins adjusted, adjusting to fluctuations in international crude oil prices. Turn from loss to profit – EBITA Revival: In the June quarter due to severe pressure on crude oil prices, Rs. 3,962 crore net loss, Rs.
BPCL, which suffered an EBITA loss of 4,078 crores, in the second quarter consolidated at Rs. 8,971 crores EBITA was recorded and showed strength. The company's EBITA margin rebounded to 6 percent. Total income from operations declined marginally by 1% to Rs. 1.58 lakh crore, control of operating costs and improved downstream petroleum performance sustained the company's profitability. Downstream Segment Emphasis: Company segment wise, the downstream petroleum segment is Rs. 7,066.98 crore in operating profit.
In the previous quarter, this segment was Rs. 5,919.53 crore in losses, making a remarkable turnaround in the latest quarter. Analysts said that fuel sales in the domestic market continued to be stable and operational efficiency of refineries was strong, which contributed to the increase in the company's net profit. As a result, the total net profit of the company in the first half of the current financial year (H1) is Rs. 1,031 crores.