#Budget2019 #JetAirways #TailorMadeBiz

SENSEX
NIFTY 50
Hang Seng
Taiwan Weighted
MCX GOLD AUG 05
MCX SILVER JUL 05
USD/INR
EUR/INR80.0630

SENSEX
NIFTY 50
NIFTY MIDCAP 100
S&P BSE MIDCAP
Hang Seng
Taiwan Weighted
DAX
Nasdaq
MCX GOLD AUG 05
MCX SILVER JUL 05
MCX CRUDEOIL JUL 19
MCX NATURALGAS JUL 26
USD/INR
EUR/INR
GBP/INR
JPY/INR

10 things you need to know before the opening bell on June 27

Global Markets: Asian shares going nowhere as G20 looms large

Oil prices fall as market awaits G20, OPEC

Rupee slips 12 paise to 69.48/$ in early trade

Energy

Bharat Petroleum's FY20 GRMs will be better than FY19, says finance director Vijayagopal

Updated : May 21, 2019 01:40 PM IST

Bharat Petroleum Corp Ltd (BPCL) on Monday posted a 16.21 percent year-on-year rise in profit at Rs 3,124.91 crore for the quarter ended March 31.

The company’s average gross refining margin (GRM) came in at $4.58 per barrel for the full financial year against $6.85 last year.

N Vijayagopal, director of finance at BPCL, spoke to CNBC-TV18 about the financial results.

"GRMs in FY20 would be higher than FY19 on back of the recovery in global margins. The adjusted GRMs for the quarter stood at USD 2.55/bbl and for the USD 4/bbl full year," Vijayagopal said on Tuesday.

"The Kochi refinery has stabilised all its units and post the stabilised operations, it will add to the GRMs significantly in FY20", said Vijayagopal.

Vijayagopal is hopeful the refining throughput in FY20 will be around 32 mmt, higher than the FY19 number of 31 mmt.

Talking about the impact of Iran sanctions, he said, "The impact will be very small on margins because of substitute crude oil. Iran imports for them are less than 10 percent of total crude basket and they have alternate sources of supply."

The company said it has recovered dues from Jet Airways with regards to ATF.

primo org

Have you signed up for Primo, our daily newsletter?

It has all the stories and data on the market, business, economy and tech that you need to know.

To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more

You May Also Like

Supreme Court issues new roster system, to be followed from July 1

Supreme Court issues new roster system, to be followed from July 1

These 11 companies have themselves to blame as their stocks tank 50-90% in H1CY19

These 11 companies have themselves to blame as their stocks tank 50-90% in H1CY19

Government says target of constructing 1 crore houses under PMAY(U) can be completed before deadline

Government says target of constructing 1 crore houses under PMAY(U) can be completed before deadline

Trending on CNBC-TV18

Live TV

recommended for you