The Hindu Business Line : BPCL Q4 net down 15 pc at Rs 351 cr

BHARAT Petroleum Corporation Ltd has reported a 15 per cent drop in fourth quarter profit. The company on Thursday declared a second interim dividend of Rs 7.50 a share, taking its total dividend up to Rs 12.50 a share.

Net profit for quarter ended March 31 was down to Rs 351.4 crore or Rs 11.71 a share against Rs 413.9 crore or Rs 13.80 a share last year while net sales were up 15 per cent to Rs 15,968.1 crore (Rs 13,835.7 crore).

Gross refining margins were at $4.56 a barrel (Rs 1,539 a tonne) against $4.64 a barrel (Rs 1,601 a tonne).

Total expenses for the quarter stood at Rs 15,481.8 crore (Rs 13,134.1 crore), most of which was increase in cost of crude oil, basic raw material for petroleum products.

BPCL's fourth quarter interest payments jumped to Rs 41.6 crore (Rs 23.7 crore) while depreciation was at Rs 141.2 crore (Rs 154.1 crore).

For the financial year ended March 31, BPCL has reported a 43 per cent drop in net profit to Rs 965.8 crore or Rs 32.19 a share against Rs 1,694.6 crore or Rs 56.49 a share last year, on net sales of Rs 58,970 crore (Rs 48,254.3 crore).

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