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BPCL Q4FY21 results: Profit rises 330% QoQ to Rs 11,940 crore; Recommends final dividend of Rs 58 per equity share
BPCL Q4FY21 results: Profit rises 330% QoQ to Rs 11,940 crore; Recommends final dividend of Rs 58 per equity share
Bharat Petroleum Corporation Ltd. (BPCL) has reported a 329.86 per cent quarter-on-quarter (QoQ) rise in the profits at Rs 11,940.13 crore for the quarter ended March 31, 2021. It had reported a profit of Rs 2,777.62 crore in the previous quarter ended December 31, 2021
Bharat Petroleum Corporation Ltd. (BPCL) has reported a 329.86 per cent quarter-on-quarter (QoQ) rise in the profits at Rs 11,940.13 crore for the quarter ended March 31, 2021. It had reported a profit of Rs 2,777.62 crore in the previous quarter ended December 31, 2021.
On a year-on-year (YoY) basis, BPCL has reported a loss of Rs 1,361.01 crore in the corresponding quarter of the previous financial year.
The petroleum refinery company's revenue from operations grew 14.06 per cent to Rs 98,755.62 crore in January to March quarter compared to Rs 86,579.95 crore posted in October to December quarter of the same financial year.
On a year-on-year basis, BPCL posted a revenue of Rs 81,296.23 crore in the corresponding quarter of the previous financial year.
Besides, the Board of Directors has recommended a final dividend of Rs 58 per equity share (including a one-time special dividend of Rs 35 per equity share of Rs 10 each) for the financial year ended March 31, 2021, subject to the approval of the shareholders at the ensuing Annual General Meeting(AGM). The final dividend would be paid within 30 days from the date of its declaration at the AGM. The final dividend is in addition to the interim dividend of Rs 21 per equity share of Rs 10 each paid for the year by the Company.
The company said the market sales of the Corporation for the year ended March 31, 2021, was 38.74 MMT as compared to 43.10 MMT achieved during the year ended March 31, 2020. The decrease is mainly in HSD-Retail (-10.66 per cent), MS-Retail (-7.83 per cent), ATF (-60.32 per cent) and partly offset by an increase in LPG (6.24 per cent).
The Average Gross Refining Margin (GRM) of the Corporation during the year ended March 31, 2021, is $4.06 per barrel (April - March 2020: $ 2.50 per barrel).
The Corporation has accounted Nil compensation towards sharing of under-recoveries on sale of sensitive petroleum products by way of Budgetary Support from Government of India for the year ended 31st March 2021 (April - March 2020: Rs 255.31 crores) as Revenue from operations. Nil under-recovery has been absorbed by the Corporation on this account during the reported periods.
Other Income for the year ended March 31, 2021, includes Rs 199.75 crore on account of foreign exchange gain as against foreign exchange loss of Rs 1,662.34 crores reported for the year ended March 31, 2020, which was included in Other Expenses.
