BPCL Q3 profit falls 7.3% to Rs 1,901 cr; announces interim dividend

The revenue from operations rose marginally year-on-year at Rs 87,292.62 crore

State-owned oil and gas company Bharat Petroleum Corporation Ltd (BPCL) on Monday reported a 7.3 per cent year-on-year decline in consolidated net profit at Rs 1,901 crore for the quarter ended December 31, 2020 (Q3FY21). The company posted a profit of Rs 2,051.43 crore in the corresponding period a year ago (Q3FY20). It was Rs 2,589.52 crore in the September quarter (Q2FY21).

However, on a standalone basis, the net profit came in at Rs 2,778 crore in the latest December quarter, up over 120 per cent year-on-year, compared with Rs  1,261 crore in the same period a year earlier.

Revenue from operations rose marginally year-on-year at Rs 87,292.62 crore compared to the revenue of Rs 85,927 crore during the same period a year earlier. It was Rs 66,331.22 crore in the September quarter.

The total expenses fell 1.4 per cent at Rs 83,256.54 crore in the December quarter, compared with Rs 84,496 crore in the corresponding quarter, a year earlier. The total income in Q3FY21, meanwhile, stood at Rs 88,027.16 crore.

Refining throughput came in at 9.11 million metric tonnes (MMT) in the December quarter, down from 9.81 MMT in the year ago period.

The average gross refining margin (GRM) of the corporation during nine months ended December 31, 2020 is at $2.90 per barrel.

Further, the company announced an interim dividend of Rs 16 per share for the financial year 2020-21. It will be paid on or before March, 8, 2021.

"The board of directors have fixed February,19 2021 as record date to determine the eligibility of the shareholders to receive the said Interim Dividend," the company said in a stock exchange filing.

On Monday, BPCL scrip ended 1.17 per cent higher on BSE at Rs 419.90 a piece.