BPCL Q3FY22 Results: Company’s net profit slips 11%, revenue jumps 39% YoY

The privatization-bound oil market company Bharat Petroleum Corporation Limited (BPCL) reported mixed third quarter results for the financial year 2021-22 (Q3FY22), as the top line declined year-on-year basis, while revenue from operations posted double-digit growth during the quarter. 

The company’s profit slipped over 11 per cent to Rs 2462 crore in Q3FY22 as compared to Rs 2777 crore in the same quarter a year ago. On the other hand, the revenue from operations grew almost 37 per cent to Rs 1,18,536 crore in Q3FY22 as against Rs 86,579 crore in a year ago quarter. 

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The Board of Directors has declared second Interim Dividend of Rs 5 per share of face value Rs I0/each that is 50 per cent on the paid-up equity share capital of the company for FY22, and has fixed February 11, 2022, Friday as Record date to determine the eligibility of the shareholders to receive the said Interim Dividend, BPCL in another press statement on Monday. 

The average Gross Refining Margin (GRM) of the corporation during nine months ended 31st December 2021 is $6.78 per barrel as compared to $ 2.90 per barrel in April - December 2020. 

The company in its filing said, “The merger-of wholly owned subsidiary companies, Bharat Oman Refinery limited and Bharat Gas Resources Limited is under process and will be completed after obtaining necessary approval from authorities.”