Bharat Petroleum Corporation (BPCL) declined 2.16% to Rs 318.95 after the PSU company reported 82.2% fall in standalone net profit to Rs 2,130.53 crore in Q4 FY22 as against Rs 11,940.13 crore in Q4 FY21.
Net sales came at Rs 108,773.57 crore for the quarter ended 31 March 2022 as against Rs 76,890.50 crore during the same period in the previous year, registering a growth of 41.5%. Profit before tax stood at Rs 3,039.55 crore in Q4 FY22, down by 75.2% from Rs 12,237.44 crore in Q4 FY21.
The company's total expenditure surged 45.5% to Rs 104,524.23 crore in Q4 FY22 over Q4 FY21. Cost of raw material consumed soared 55.44% to Rs 44,459.52 crore while employee benefit expenses drop 19.32% to Rs 913.99 in Q4 FY22 as compared to the corresponding quarter previous year.
Refinery Thoughtput declined 3.22% to 8.12 metric million tonnes (MMT) in Q4 FY22 as compared to 8.39 MMT in Q4 FY21. Market sales grew 5.82% to 11.82 MMT in Q4 FY22 as against 11.17 MMT in Q4 FY21. Sales growth stood at 5.82% in Q4 FY22 from 4.10% posted in Q4 FY21. Export sales surged 23.81% to 0.78 MMT in Q4 FY22 from 0.63 MMT in Q4 FY21.
On full year basis, the company recorded 53.8% fall in net profit to Rs 8,788.73 crore on a 55.8% surge in net sales to Rs 362,276.78 crore in FY22 over FY21.
The market sales of the corporation for the year ended 31 March 2022 was 42.51 (MMT) as compared to 38.74 MMT for the year ended 31st March 2021. Increase is mainly in MS-Retail (13.05%), HSD-Retail (6.64%) and ATF (31.91%).
The Average Gross Refining Margin (GRM) of the corporation for year ended 31 March 2022 stood at $9.09 per barrel as compared to $ 4.06 per barrel reported in FY21.
Meanwhile, the board of directors of the company recommended a final dividend of Rs 6 per equity share, for the financial year ended 31 March 2022.
BPCL is the second largest Indian oil marketing company, 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 company attained the coveted Maharatna status, joining the elite club of companies having greater operational & financial autonomy. The Government of India holds 52.98% stake in BPCL as of 31 March 2022.
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