Bharat Petroleum Corporation Ltd's Q1FY19 standalone net profit rises 208% yoy to Rs2,293.26cr : Beats Estimates

The company’s standalone revenue stood at Rs71,696.7cr, up 26% yoy.

Aug 08, 2018 02:08 IST India Infoline Research Team

Bharat Petroleum Corporation Ltd Q1FY19

Standalone Results Q1FY19: (Rs. in cr)

Q1FY19 YoY (%)
Revenue 71,696.7 26
EBITDA 3,875.2 216
EBITDA Margin (%) 5.4 326
Net Profit (adjusted) 2,293.3 208
***EBITDA margin change is bps

Bharat Petroleum Corp Ltd's (BPCL) Q1FY19 results beat the estimates. Revenue grew by 26% yoy to Rs71,696.7cr against Rs57,125.8cr in Q1FY18, marginally missing the estimate (Rs75,542cr). EBITDA for the quarter grew by 216% yoy to Rs3,875.2cr against Rs1,225cr, beating the estimate (Rs3,310cr). EBITDA margin grew by 326bps yoy to 5.4%. Net profit for the quarter grew by 208% yoy to Rs2,293.3cr against Rs744.6cr last year, beating the estimate (Rs2,053cr).

• Average Gross Refining Margin (GRM) during the quarter stood at $7.49/bbl beating the estimate ($5.6/bbl)
• Crude Throughput grew by 20.6% yoy to 7.74MMT against 6.42MMT, due to higher volumes coming in from Kochi refinery expansion
• Market Sales grew by 9.3% yoy to 10.97MMT, driven by increased efforts on gaining market share
• Kochi GRM was up 82% YoY, while Mumbai GRM was up 35% YoY

Technical View:

Bharat Petroleum Corporation Ltd is currently trading at Rs. 387.65, down by 4.55 points or 1.16% from its previous closing of Rs. 392.20 on the BSE.
The scrip opened at Rs. 396 and has touched a high and low of Rs. 397.85 and Rs. 383.35 respectively. So far 44,49,869 (NSE+BSE) shares were traded on the counter. The stock is currently trading above its 200 DMA.

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