Bharat Petroleum Corporation Limited (BPCL) on May 9 reported a decline of\u00a030 percent in its consolidated net profit\u00a0in the fourth quarter of FY24 amid weak margins.The slump in the company’s profit comes amid weakening refining margins and volatility in crude oil prices over the quarter. <\/p>\n\n\n\n
In mid-March, BPCL among other OMCs had slashed diesel and petrol prices by Rs 2 per litre in the country, which would also have impacted the company’s margins.<\/p>\n\n\n\n
Moneycontrol<\/em>\u00a0looks at the key highlights from the company’s fourth quarter results:<\/p>\n\n\n\n -BPCL’s\u00a0consolidated net profit came in at Rs 4,789.57 crore in the fourth quarter, compared to Rs 6,870.47 crore in the same period last year.<\/p>\n\n\n\n -The company’s revenue from operations declined marginally to Rs 1.32 lakh crore in the quarter ended March 31, compared to Rs 1.33 lakh crore last year.<\/p>\n\n\n\n -BPCL’s board recommended issue of bonus shares in the ratio of 1:1 i.e. one new bonus equity share of Rs 10 each for every one existing equity shares of Rs 10 each fully paid up, subject to the approval of shareholders.<\/p>\n\n\n\n -The company’s board recommended final dividend of Rs 21 per equity share (pre-bonus) for the year 2023-24, which translates into final dividend of Rs 10.5 per share (post-bonus).<\/p>\n\n\n\n -BPCL’s gross refining margin (GRM) for FY24 was $14.14 per barrel, as against $20.24 per barrel during the corresponding period last year.<\/p>\n\n\n\n -BPCL’s throughput was 10.36 million metric tonnes (MMT) in the fourth quarter, compared to 10.63 MMT last year.<\/p>\n\n\n\n -On the marketing front, BPCL posted growth of 2.09 percent for market sales at 13.18 MMT during Jan-Mar 2024 from 12.91 MMT in the comparative period.<\/p>\n\n\n\n -BPCL achieved average ethanol blending percentage of 11.69 percent during FY24 with highest blending in the fourth quarter at 12.15 percent.<\/p>\n\n\n\n -The company added 308 new fuel stations in the fourth quarter, taking BPCL’s network strength to 21,840 stations. BPCL also commissioned 323 CNG stations in the quarter, taking the total CNG stations to 2,031 as on March 31.<\/p>\n\n\n\n -BPCL remains cautiously optimistic and expects crude oil prices to remain in the range of $83-$87 per barrel in the near future.<\/p>\n","protected":false},"excerpt":{"rendered":" Bharat Petroleum Corporation Limited (BPCL) on May 9 reported a decline of\u00a030 percent in its consolidated net profit\u00a0in the fourth…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/candlestickschart.com\/index.php\/wp-json\/wp\/v2\/posts\/248"}],"collection":[{"href":"https:\/\/candlestickschart.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/candlestickschart.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/candlestickschart.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/candlestickschart.com\/index.php\/wp-json\/wp\/v2\/comments?post=248"}],"version-history":[{"count":1,"href":"https:\/\/candlestickschart.com\/index.php\/wp-json\/wp\/v2\/posts\/248\/revisions"}],"predecessor-version":[{"id":249,"href":"https:\/\/candlestickschart.com\/index.php\/wp-json\/wp\/v2\/posts\/248\/revisions\/249"}],"wp:attachment":[{"href":"https:\/\/candlestickschart.com\/index.php\/wp-json\/wp\/v2\/media?parent=248"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/candlestickschart.com\/index.php\/wp-json\/wp\/v2\/categories?post=248"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/candlestickschart.com\/index.php\/wp-json\/wp\/v2\/tags?post=248"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}