BPCL Q4 FY23: Net profit strikes up 159% YoY to Rs 6,478 cr

New Delhi: Bharat Petroleum Corporation Limited (BPCL) on May 22 announced its Quarter Fourth, Finacial Year 23 results, indicating a significant rise in revenue. The state-owned company reported a net profit of INR 6,478 crores ($873m), up by 159% compared to the same period last year. 

The average gross refining margin for FY23 was $20.24 per barrel, and the company's consolidated revenue from operations increased by 8.1% to INR 134,000 crores compared to last year. 

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BPCL's market sales also rose to 48.92 million metric tonnes from 42.51 million metric tonnes. The board has recommended a dividend of INR 4 per equity share of face value INR 10 for FY23. Sequentially, the net profit zoomed 230 percent from INR 1,960 crores in the preceding quarter (Q3FY23).

The Board of Directors at its meeting held on 22nd May 2023 has recommended a final dividend of Rs 4/- per Equity Share (Face Value: Rs 10/- per equity share) subject to the approval of shareholders. Other Expenses for the year ended 3i5t March 2023 includes foreign exchange loss of 1,497.81 Crores (FY 2021-22: ~ 285.17 Crores). 

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The Board of Directors of the Corporation at their meeting held on 22nd October 2021 had approved the Scheme of ' Amalgamation (BORL Scheme) for merger of Bharat Oman Refineries Limited (BORL), wholly owned subsidiary of the Corporation, with the Corporation. 

The company's EBITDA, or earnings before interest, taxes, depreciation, and amortization stands Rs 11,153 crore from Rs 4,234 crore on sequential basis.

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