India's three state-run fuel retailers post ₹30,106 crore combined Q2 profit

India's three state refiners posted a combined ₹30,106 crore Q2 profit, up 68.3% year-on-year, as BPCL's gross refining margin jumped to $32.53 per barrel from $10.78. The swing from a prior-quarter loss underscores exceptionally strong refining spreads and inventory gains, signalling tight product markets. That is supportive for crude and distillate cracks near term, though unpaid LPG subsidy liabilities and weak fuel-marketing margins cap the read-through.