BPCL fell 1.46% to Rs 334.90 at 15:28 IST on BSE after net profit slumped 81.51% to Rs 931.13 crore on 8.54% rise in total income to Rs 62241.32 crore in Q2 September 2013 over Q2 September 2012.
The result was announced during trading hours today, 13 November 2013.
Meanwhile, the BSE Sensex was down 83.26 points, or 0.41%, to 20,198.65.
On BSE, 1.38 lakh shares were traded in the counter compared with average volume of 1.71 lakh shares in the past one quarter.
The stock hit a high of Rs 343 and a low of Rs 329.05 so far during the day. The stock hit a record high of Rs 449 on 21 January 2013. The stock hit a 52-week low of Rs 256 on 6 August 2013.
The stock had outperformed the market over the past one month till 12 November 2013, rising 0.24% compared with the Sensex's 1.20% fall. The scrip had also outperformed the market in past one quarter, rising 19.71% as against Sensex's 7.05% rise.
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The large-cap public sector oil marketing company has an equity capital of Rs 723.08 crore. Face value per share is Rs 10.
BPCL received a discount of Rs 7852.99 crore in the half year ended September 2013 on purchase of crude oil/products from ONGC/GAIL/NRL, compared with a discount of Rs 7280.30 crore in the half year ended September 2012.
The government advised a compensation of Rs 6317.97 crore to the company by way of subsidy for the half year ended September 2013 as against Rs 7239.40 crore accounted in the half year ended September 2012.
Consequent to non-revision in retail selling prices corresponding to the international prices and applicable foreign exchange rates prevailing during the half year, BPCL absorbed net under-recovery of Rs 760.33 crore in the half year ended September 2013, compared with Rs 6133.39 crore in the half year ended September 2012, on sale of sensitive petroleum products.
Public sector oil marketing companies (PSU OMCs) -- BPCL, HPCL and Indian Oil Corporation -- suffer revenue loss on domestic sale of diesel, LPG and kerosene at a controlled price (The government decontrolled pricing of petrol in 2010). The government compensates these state-run oil marketing firms for their under-recoveries through oil subsidies. The rest of the cost-price gap is borne by three state-run oil firms -- GAIL (India), ONGC and Oil India.
The Government of India (GoI) holds 54.93% stake in BPCL (as per the shareholding pattern as on 30 September 2013).
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