BPCL's net profit up y-o-y by 168% in March quarter

23 May 2023 , 12:46 PM

BPCL reported a remarkable 168% y-o-y surge in its consolidated net profit, reaching Rs 6,780 crore for the quarter ended in March. In comparison, the net profit stood at Rs 2,559 crore during the corresponding period of the previous year.

During the quarter under review, BPCL experienced a notable 8% increase in revenue from operations, reaching Rs 1.33 lakh crore, in contrast to Rs 1.23 lakh crore recorded in the same quarter of the previous year.

A dividend of Rs 4 per equity share has been proposed for the financial year ending March 2023. 

The net profit of the company experienced a significant increase from Rs 1,747 crore in the previous quarter, growing multi-fold. However, revenues remained relatively unchanged when compared to the third quarter.

During the quarter being reported, the company witnessed a 4% surge in total expenses, amounting to Rs 1.24 lakh crore, as opposed to Rs 1.19 lakh crore recorded in the corresponding period of the previous year.

BPCL’s net profit for the fiscal year 2022-23 witnessed a significant decline of 82% y-o-y, reaching Rs 2,131 crore, in comparison to the previous fiscal year’s net profit of Rs 11,681 crore.

In the fiscal year 2022-23, revenue from operations saw a notable increase, reaching Rs 5.33 lakh crore, compared to Rs 4.32 lakh crore in the preceding fiscal year.

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