BPCL shares zoom to 52-week high after announcing strong Q4 results

FPJ Web DeskUpdated: Thursday, May 27, 2021, 11:45 AM IST
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The share price of BPCL, the second largest Indian Oil Marketing Company, price touched a 52-week high of Rs 488, up over 3 percent today. The company reported record standalone profit at Rs 11,940.1 crore for the quarter ended March 31, 2021. It reported a profit of Rs 2,777.6 crore in the previous quarter.

The premier integrated energy company in India posted its highest-ever profit of Rs 19,041.67 crore in FY21, as compared to Rs 2,683.19 crores in previous year.

In FY 2021, the net profit was up by 372.47 per cent from Rs 3,665.78 in FY 2020 (dropped during first wave of COVID-19) as against Rs 17,319.83 in FY 2021.

The net profit for the fourth quarter stood at Rs 11,940.13 crore. The company’s gross refining margins (GRMs) for the year stood at US$ 4.06 per barrel and for January-March 2021 period at US$ 6.64 per barrel. The company's EBITDA was at Rs 27,923.99 crore; EBITDA margin was at 9 per cent in FY21 and 14 per cent in Q4FY21

N Vijayagopal, Director (Finance) of BPCL said, “We witnessed a V-shape recovery in the second half of the financial year resulting in robust growth in fuel sales. In an unprecedented year that began with a lockdown across the country and subdued business and economic activities, the fourth quarter was a stand-out quarter that helped Company to report its highest ever growth in bottom-line. Our market sales of HSD (High Speed Diesel) grew by 5.98% and MS (Motor Spirit) grew by 9.89%. Our debt level has come down to normal level of Rs. 26,000 crores."

The board has proposed a final as well as special dividend totalling to Rs 58 per share, subject to approval from the shareholders.

The total market sales was 38.74 MMT in FY 21, while Mumbai and Kochi refineries processed 26.40 MMT in FY 21.

BPCL added 2,444 New Fuel Stations, taking their network strength to 18,637.

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