Revenue from operations for the quarter stood at Rs 68,997.8 crore, declining 8 percent compared to Rs 74,959.2 crore in December quarter 2019.
Bharat Petroleum Corporation (BPCL) share price slipped more than 3 percent in early trade on June 4 after the company posted losses in the March quarter.
The company posted consolidated loss of Rs 1,819.6 crore for the quarter ended March 2020 against profit at Rs 2,051.4 crore in previous quarter.
Revenue from operations for the quarter stood at Rs 68,997.8 crore, declining 8 percent compared to Rs 74,959.2 crore in December quarter 2019.
Credit Suisse has neutral rating on the stock with a target at Rs 305 per share.
The company posted good margin but sharp increase in debt in Q4, while refining clean GRM has increased to USD 7.40/bbl, said Credit Suisse.
The refining volume rose 2% YoY with Mumbai & Kochi units operating at 135% & 117% utilisation.
The marketing volume was weak, down 5% YoY, while marketing gross margin increased to Rs 4/L versus Rs 3.20/L QoQ, it added.
At 09:28 hrs Bharat Petroleum Corporation was quoting at Rs 348.20, down Rs 0.85, or 0.24 percent on the BSE.
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