Bharat Petroleum Corporation (BPCL) rose 1.32% to Rs 477.50 after the company reported a net profit of Rs 11,940.13 crore in Q4 FY21 as against a net loss of Rs 1,361.01 crore in Q4 FY20.
Net sales during the quarter increased 11.4% year-on-year (YoY) to Rs 76,882.32 crore.
The corporation recorded an exceptional gain of Rs 6,992.95 crore during the quarter ended 31 March 2021. Exceptional items for Q4 FY21 include employee share based expenses, gain on sale of investment in subsidiary and impairment of investment in subsidiary.
The corporation had incurred an exceptional expense of Rs 1,080.83 crore in the same period last year, on account of write down of inventory.
The corporation reported a pre-tax profit of Rs 12,237.44 crore in Q4 FY21 as against a pre-tax loss of Rs 2,068.87 crore in Q4 FY20.
BPCL reported a net profit of Rs 13,727.25 crore in the year ended 31 March 2021 compared with a net profit of Rs 3,601.89 crore in the year ended 31 March 2020. Net sales declined 18.2% to Rs 23,245.13 crore in FY21 over FY20.
The corporation's gross refining margins (GRMs) for FY21 stood at $4.06 per barrel as against $2.50 per barrel for FY20.
The market sales of the corporation for the year ended 31st March 2021 was 38.74 MMT as compared to 43.10 MMT achieved during year ended 31st March 2020. Decrease is mainly in HSD-Retail (down 10.66%), MS-Retail (down 7.83%), ATF (down 60.32%) and partly offset by increase in LPG (6.24%).
The state-owned refiner's throughput for FY21 declined 17.3% YoY to 26.40 million tonnes.
Debt-Equity ratio as on 31 March 2021 was at 0.48x as against 1.26x in FY20.
BPCL added 2,444 New Fuel Stations, taking their network strength to 18,637, the 2nd second highest retailing network in India. The company owned company controlled outlets network increased to to 324 with 12 additions this year.
The company also commissioned LPG import terminal with a capacity of 1 MMTPA, at Haldia.
BPCL has recommended a final dividend of Rs 58 per share, which includes a one-time special dividend of Rs 35 and interim dividend of Rs 21 per share.
N. Vijayagopal, director (Finance) said, "We witnessed a V-shape recovery in second half of financial year resulting in robust growth in fuel sales. In an unprecedented year that began with a lockdown across country and subdued business & economic activities, fourth quarter was a stand-out quarter that helped company to report its highest ever growth in bottom-line. Our market sales of HSD (High Speed Diesel) grew by 5.98% and MS (Motor Spirit) grew by 9.89%. Our debt level has come down to normal level of Rs. 26,000 crore."
BPCL is the second largest Indian oil marketing company. It is engaged in refining of crude oil and marketing of petroleum products, with a significant presence in the upstream and downstream sectors of the oil and gas industry. The Government of India holds 52.98% stake in BPCL as of 31 March 2021.
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