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Net sales (excluding excise duty) fell marginally to Rs 1,16,555.12 crore in the March quarter from Rs 1,18,112.08 crore recorded in the corresponding quarter previous year. Profit before tax slipped 30.49% year on year to Rs 5,643.36 crore in the quarter ended 31 March 2024. During the quarter, the refinery throughput was at 10.36 metric million tonnes (MMT), down 2.54% from 10.63 MMT posted in Q4 FY24. Market sales grew 2.09% to 13.18 MMT in Q4 FY24 as against 12.91 MMT registered in Q4 FY23. Sales growth tumbled to 2.09% in Q4 FY24 as compared to 9.22% reported in Q4 FY23. Export sales declined 32.35% to 0.23 MMT in Q4 FY24 from 0.34 MMT posted in Q4 FY23. For FY24, the company reported a net profit of Rs 26,673.50 crore, steeply higher than Rs 1,870.10 crore recorded in FY23. Net sales slipped 5.31% YoY to Rs 4,48,013.15 crore in FY24. The average gross refining margin (GRM) of the corporation for the year ended 31 March 2024 is $14.14 per barrel as compared to $ 20.24 per barrel recorded in the same period a year ago. This is before factoring the impact of special additional excise duty and road & infrastructure cess, levied with effect from 1 July 2022. The market sales of the corporation for the year ended 31 March 2024 was 51.04 MMT as against 12.91 MMT for the year ended 31 March 2023. Increase is mainly in MS -Retail (5.34%), HSD (1.45%) and ATF (9.35%). Meanwhile, the board has recommended issue of bonus shares in the ratio of 1:1 i.e. one new bonus equity share of Rs 10 each for every one existing equity shares of Rs 10 each fully paid up, subject to the approval of shareholders through postal ballot. The board has fixed Saturday, 22 June 2024 as record date to determine the eligibility of shareholders to receive bonus shares. Subsequently, the board has recommended a final dividend of Rs 21 for the financial year ended 31 March 2024. Bharat Petroleum Corporation (BPCL) is the second largest Indian oil marketing company (OMC), engaged in refining of crude oil and marketing of petroleum products, with a significant presence in the upstream and downstream sectors of the oil and gas industry. The company attained the coveted 'Maharatna' status, joining the elite club of companies having greater operational & financial autonomy. The Government of India holds 52.98% stake in BPCL as of 31 March 2024. The scrip rose 4.06% to currently trade at Rs 616.35 on the BSE. Powered by Capital Market - Live News |