BPCL Reports Impressive Q1FY24 Results with 62.9% Rise in Net Profit

27 Jul 2023 , 12:54 PM

Bharat Petroleum Corporation Ltd (BPCL) reports net profit of Rs 10,550.88 crore for Q1FY24, a significant rise from the loss of Rs 6,263.06 crore in the same period last year.

Sequentially, net profit shows a strong growth of 62.9% from Rs 6,477.74 crore in Q4FY23. Total revenue from operations declined by approximately 4.3% YoY to Rs 1,28,256.65 crores in Q1FY24.

Total income stood at Rs 1,28,748.65 crore in the first quarter, compared to Rs 1,38,831.25 crore in the year-ago period, as per information. Revenue breakdown shows Rs 30.04 crore from exploration and production of hydrocarbons and Rs 1.28 lakh crore from the sale of downstream petroleum.

As per data, EBITDA for April to June increased by 41.8% quarter over quarter, reaching Rs 15,809.7 crore. Market sales for the three months ended June 30, 2023, were 12.75 MMT, showing growth compared to the same period last year.

BPCL’s Q1FY24 financial results reflect strong profits, increased market sales, and notable performance across various segments, indicating the company’s resilience and growth potential.

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