BPCL Q3 results: Net profit declines 7.3% to Rs 1,901 crore, declares interim dividend of Rs 16

Bharat Petroleum Corporation Ltd (BPCL) on Monday reported 7.3 per cent year-on-year (YoY) decline in consolidated net profit at Rs 1,901 crore for October-December period of the ongoing financial year.

The state-owned company's revenue from operations rose 1.6 per cent YoY to Rs 87,293 crore.  Total expenses declined 1.5 per cent to Rs 83,257 crore.

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Refinery throughput stood at 9.11 million metric tonnes (MMT) during December quarter as compared with 9.81 MMT in the year-ago period, while market sales rose to 11.18 MMT from 11.08 MMT a year ago.

On a standalone basis, the state-owned company's net profit more than doubled to Rs 2,778 crore from Rs 1,261 crore in the year-ago quarter.

The average gross refining margin (GRM) of the company for April-December period stood at $2.90 per barrel as compared with $3.13 per barrel in the same period in 2019. The company's board also declared an interim dividend of Rs 16 per share.

On Monday, shares of BPCL closed 1.17 per cent higher at Rs 419.90 on the BSE.

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