BPCL Q4 Results: Company’s Net Profit Skyrockets 168% YoY; Dividend Declared

Refining major Bharat Petroleum Corporation Limited posted 168% growth in its consolidated net profit at Rs 6,780 crore for the three months ended March. It was Rs 2,559 crore in the year-ago period. Revenue from operations during the reporting quarter rose 8% to Rs 1.33 lakh crore as against Rs 1.23 lakh crore in the corresponding quarter of last year.  

Revenue from operations in FY23 rose to Rs 5.33 lakh crore, compared with Rs 4.32 lakh crore in the previous fiscal year. The market sales of the company for the year ended March 2023 were 48.92 MMT as compared to 42.51 MMT for FY22. The increase is mainly in ATF (65.6%), HSD-Retail (25.3%) and MS-Retail (18%).

Interestingly, the Board has also recommended a dividend of Rs 4 per equity share on the face value of Rs 10 per share for the financial year ending March 2023. The dividend would be paid within 30 days from the date of its approval at the AGM.  

Bharat Petroleum Corporation Limited (BPCL) was established in 1952. BPCL is a Government of India Enterprise listed on the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited. The Corporation is engaged in the business of refining crude oil and marketing petroleum products. It has refineries at Mumbai and Kochi, LPG bottling plants and Lube blending plants at various locations. The Corporation’s marketing infrastructure includes a vast network of Installations, Depots, Retail Outlets, Aviation Fuelling Stations, and LPG distributors.  

BPCL is currently trading at Rs 368.60, up by 7.10 points or 1.96% from its previous closing of Rs 361.50 on the BSE. The scrip opened at Rs 371.95 and has touched a high and low of Rs 371.95 and Rs 366.20 respectively. So far 58,553 shares were traded on the counter.  

The BSE group ‘A’ stock of face value Rs 10 has touched a 52-week high of Rs 374.85 and a 52-week low of Rs 288.20. The promoters’ holding in the company stood at 52.98%, while institutions and non-institutions held 35.16% and 11.87% respectively.