BPCL, unlike peers, reported strong set of numbers led by robust crude throughput and sales growth aided by increased capacity at Kochi terminal. Crude throughput grew 9.5% YoY to highest-ever 7mmt, while sales volume rose 8.6% to 10.4mmt. Revenue increased 19.3% to Rs533 bn, EBITDA increased 155.4% due to lower RM cost, better core margin (US$6.5/bbl vs US$3.8/bbl) and inventory gains against losses in Q2FY17. Consequently, PAT increased 81% to Rs24 bn, partially impacted by lower other income and higher interest expense....