Bharat Petroleum Corporation Limited has reported a 47.59% YoY growth in profits in its Q3 results. Profits for this quarter stood at Rs 2,805.09 crores while the same for the corresponding period last year stood at Rs 1900.63 crores.
Its revenues from operations surged 35% YoY to touch Rs 1,17,702.59 crores against last year figures of Rs 87,292.62 crores. The gross refining margins rose from $2.47 per barrel to $9.68 per barrel. The company added 419 new fuel stations and 107 new CNG stations during the quarter. The company’s sales grew as the company sold 30.69 MT in the quarter against 27.57 MT last year.
“With normalization of business and fuel demand rising, this quarter has seen growth in market share of MS and HSD. We are witnessing good growth in overall petroleum products sales closer to pre-pandemic levels,” said VRK Gupta, BPCL Director Finance, said.
The Board of BPCL announced an interim dividend of Rs 5 per share. On monday, the share grew 3.75% while on tuesday, after the results, the share fell over 4%.
Highlight by Aman Agarwal.