BPCL Q3 net declines 50.57% at Rs 187.38 cr

State-owned oil major Bharat Petroleum Corporation Ltd (BPCL) on Wednesday reported a sharp 50.57 per cent dip in its net profit at Rs 187.38 crore for the third quarter ended December 31, 2010.

The company had posted a net profit of Rs 379.09 crore in the October-December quarter last financial year, BPCL said in a filing to the Bombay Stock Exchange (BSE).

The income from operations of the company rose to Rs 39,572.57 crore in the third quarter from Rs 34,624.88 crore in the year-ago period, the filing added.

Reacting to weak quarter numbers, shares of BPCL declined by 3.78 per cent to touch an intra-day low of Rs 576.25 a piece on the BSE.