BPCL reports 20% rise in Q3 net profit despite revenue decline

State-owned Bharat Petroleum Corporation Ltd (BPCL) on Wednesday reported a 20 per cent rise in December quarter net profit as margins rose.

The company reported a consolidated net profit of Rs 3,805.94 crore in the October-December period of FY24, as against Rs 3,181.42 crore in the same period a year back, according to a stock exchange filing by the company.

The profit was also up quarter-on-quarter when compared with Rs 2,297.23 crore in the July-September period.

Revenue from operations declined to Rs 1.27 lakh crore in the third quarter from Rs 1.3 lakh crore a year back mainly because of a fall in oil prices.