Bharat Petroleum Corporation Ltd's Q3FY19 standalone net profit declines 76.9% yoy to Rs495.14cr: Beats Estimates

The company’s standalone revenue stood at Rs79,168.84cr, up 30.6% yoy.

Feb 08, 2019 06:02 IST India Infoline Research Team

Bharat Petroleum Corporation Ltd Q3FY19

Standalone Results Q3FY19: (in Rs cr)

Q3FY19 YoY (%)
Revenue 79,168.84 30.6
EBITDA 737.36 [77.0]
EBITDA Margin (%) 0.9 [436]
Net Profit 495.14 [76.9]
***EBITDA margin change is bps

Bharat Petroleum Corporation Ltd's Q3FY19 results beat the estimates on the revenue and PAT fronts. The company's net revenue in the quarter grew 30.6% yoy to Rs79,168.84cr against Rs60,623.04cr in Q3FY18, beating the estimates of Rs73,255cr. EBITDA for the quarter declined 77% yoy to Rs737.36cr against Rs3,206.74cr last year. EBITDA margin declined 436bps yoy to 0.9%. Net profit for the quarter declined 76.9% yoy to Rs495.14cr against Rs2,143.74cr last year, beating the estimates of Rs427cr.

• Crude throughput grew 3% yoy to 7.49mmt in Q3FY19 against 7.27mmt in Q3FY18.
• Market sales grew 0.2% yoy to 10.67mmt in Q3FY19 against 10.65mmt.
• Export sales grew 36.2% yoy to 0.79mmt against 0.58mmt.
• The average gross refining margin (GRM) for Q3FY19 is $2.78/bbl (Q3FY18: $7.89/bbl).

Technical View:

Bharat Petroleum Corporation Ltd share price ended at Rs337.60, down 2.4 points, or 0.71%, from its previous close of Rs340 on the BSE. The scrip opened at Rs341 and touched a high and low of Rs347.25 and Rs334.90, respectively. A total of 36,53,270 (NSE+BSE) shares were traded on the counter. The stock traded above its 200-DMA.

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