Motilal Oswal: BPCL’s Better Marketing Margin, Higher Inventory, Forex Gains Drive Q2 Beat  
An attendant sits between two fuel pumps at a BPCL fuel station in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

Motilal Oswal: BPCL’s Better Marketing Margin, Higher Inventory, Forex Gains Drive Q2 Beat  

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Bharat Petroleum Corporation Ltd. posted an Ebitda beat on better-than-expected implied marketing margins (Rs 6.6/litre) and reported gross refining margin (5.75/ barrel of oil U.S. dollar).

Marketing margins have partially counterpoised weaker refining margins and inventory losses since the deregulation of petrol and diesel.

The company has reiterated that both marketing margins and GRM would normalize over the longer term.

Click on the attachment to read the full report:

Motilal Oswal BPCL Q2FY21 Result Update.pdf

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