BPCL bounces back with Rs 8,501cr profit in July-Sep quarter (Ld)

New Delhi, Oct 27 (SocialNews.XYZ) Bharat Petroleum Corporation Ltd (BPCL) on Friday reported a consolidated net profit for Q2 FY 23-24 at Rs 8,244 crore as compared to the loss of Rs 338 crore in Q2 FY 22-23.

The public sector giant has also clocked his highest ever half-yearly profit of Rs 19,052 crore.

BPCL reported a standalone revenue from operations of Rs 1,16,594 crore for the quarter July- September 2023 vs Rs 1,28,333 crore in the same quarter of the previous year.

The standalone net profit of the oil giant for the second quarter of FY 23-24 was Rs 8,501 crore as compared to the loss of Rs 304 crores in Q2 FY22-23

Major highlights of the financial results:

*Company's gross refining margin (GRM) for the period Apr - Sep 2023 was $15.42/bbl Vs $22.30/bbl in the corresponding comparative period before factoring the impact of Special Additional Excise Duty and Road & Infrastructure Cess, levied w.e.f 01st July 2022

*Standalone EBITDA for Q2 FY 23-24 is Rs 13,679.21 crore vs Rs 1,991.41 crore in Q2 FY 22-23; EBITDA margin was at 11.73 per cent in Q2 FY 23-24 vs 1.55 per cent in Q2 FY 22-23

*Debt-Equity ratio as on September 30, 2023 was at 0.32x (as against 1.10x as at September 30, 2022)

Physical Performance

In the current quarter, the throughput was 9.35 MMT Vs 8.82 MMT in Q2 of FY 22-23. Market Sales was 12.19 MMT in Q2 FY 23-24 Vs 11.44 MMT in Q2 of FY 22-23.

Sales has grown by 6.56 per cent. During April to Sep'23, the throughput was 19.71 MMT Vs 18.51 MMT in the comparative period.

The market sales for the period April to Sep'23 has increased to 24.94 MMT from 23.20 MMT in the comparative period (growth of 7.50 per cent).

Source: IANS