Improved Refining Margins Lift BPCL’s Profit In Third Quarter
Bharat Petroleum sees healthy growth in its refining margins for the quarter.
State-owned Bharat Petroleum Corporation Ltd. (BPCL) reported a 47 percent rise in profit for the third quarter, beating street estimates.
The oil and gas company saw its net profit grow to Rs 2,271.9 crore from Rs 1,545.1 crore on a quarter-on-quarter basis, it said in a stock exchange filing. The consensus of analyst estimates tracked by Bloomberg stood at Rs 2,212.65 crore.
Revenue in the third quarter increased to Rs 53,493.2 crore from Rs 48,133.8 crore in the previous quarter.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 33.1 percent to Rs 3,316.5 crore from Rs 2,492.6 crore quarter-on-quarter. The EBITDA margin remained flat at 5.17 percent.
BPCL's refining margins during the second quarter stood at $5.90 per barrel compared to $4.56 per barrel during the second quarter.
The company also declared a total interim dividend of Rs 19.5 per equity share of face value Rs 10 each. This also includes a Rs 4 per equity share special dividend.
