OMC Q2 Review: Oil marketing companies (OMCs) including Indian Oil Corp Ltd (IOCL), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corp Ltd (HPCL) reported a double-digit decline in their net profit during the July-September quarter results for fiscal 2024-25 (Q2FY25).
BPCL announced its July-September quarter results for fiscal 2024-25 (Q2FY25) on Friday, October 25, reporting a crash of nearly 72 per cent in its standalone net profit to ₹2,397 crore as refinery margins fell and marketing margins shrunk, compared to ₹8,501 crore in the corresponding period last year.
The state-owned oil marketing company (OMC)’s revenue from operations in the second quarter of the current fiscal rose marginally by one per cent to ₹1.17 lakh crore, compared to ₹1.16 lakh crore in the year-ago period.
