BPCL swings to black, posts Rs 10,644 crore profit in Q1

BPCL announced a consolidated net profit of Rs 10,644 crore in the first quarter, as against a loss of Rs 6,148 crore in the year-ago period. On a standalone basis, the net profit came in at Rs 10,550 crore for the June quarter, while revenue was at Rs 1.28 lakh crore.

Consolidated revenue from operations fell 7% to Rs 1.28 lakh crore in the reporting quarter. The same stood at 1.38 lakh crore in the same quarter of last year.

The reported consolidated net profit is 55% higher when compared with Rs 6,870 crore clocked in the preceding March quarter. Revenues, however, dropped 4% quarter-on-quarter.

The company reported an EBITDA of Rs 15,746 crore in the June quarter, while margins were at 13.9%.

The refinery throughput for the first quarter came in at 10.36, up from 9.69 in last year quarter, but down from 10.36 in the March quarter.

Other income jumped 71% year-on-year to Rs 562 crore in the April-June period, compared with Rs 329 crore in the corresponding period of last year.

Subsequent to the results-announcements, the company’s shares were trading flat at Rs 387 on NSE.

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