Bharat Petroleum net profit surges by 168% to ₹6,780 crore in Q4 2023

Oil marketing company Bharat Petroleum Corporation (BPCL) has posted a 168 per cent growth in its net profit to ₹6,780 crore for the quarter ended March 31, 2023, against ₹2,559 crore in the corresponding quarter the previous fiscal year.

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Revenue from operations in the quarter under review surged 8 per cent to ₹1.33 lakh crore, against ₹1.23 lakh crore in the corresponding quarter of last year.

Its total income grew 7.96 per cent from ₹1,33,902.66 crore in the quarter under review, against ₹1,24,026.81 crore in the year-ago period, according to a statement from the company released late Monday evening.

The company's earnings per share were ₹32.26 during the quarter under review against ₹12.02 in the year-ago period.

The company's refinery throughput was at 10.63 million tonne (mt) in the quarter under review, against ₹10.15 mt.

The company's board has also recommended dividend of ₹4 per equity share for the financial year ended March 31, 2023. The dividend would be paid within 30 days from the date of its approval at the annual general meeting.

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Bharat Petroleum Corporation Limited (BPCL) is an Indian central public sector undertaking under the ownership of the Ministry of Petroleum and Natural Gas, Government of India. It operates three refineries in Bina, Kochi and Mumbai.

The shares of Bharat Petroleum were trading 1.78 per cent up at ₹368 apiece on Tuesday morning. In a span of five days, the company was down 0.10 per cent while it went up 6.02 per cent in a period of a month.