BPCL Q4 Consol Net Profit Falls 30% to Rs 4,789 cr

State-owned Oil Marketing Company (OMC) Bharat Petroleum Corporation Limited (BPCL) on Thursday reported its earnings after the market hours for the quarter end January-March of the Financial Year 2024. The consolidated net profit of the oil marketing company plummeted 30.29% to 4,789.57 crore rupees against the corresponding quarter of the previous year. Sequentially, the company’s net profit for the fourth quarter rose 50.5% from 3,181.42 crore rupees in the preceding quarter. 

Key Takeaways from BPCL’s Earnings: 

• Consolidated PAT down 30.29% to 4,789.57 crore rupees.
• Consolidated revenue marginally down 1% to 1.32 trillion rupees.

The oil company’s consolidated revenue from operations for the quarter ended March fell marginally by 1% to 1.32 trillion rupees against 1.33 trillion rupees in Q4 FY23. Total expenses also fell by 0.42% to 1.25 trillion in the Jan-Mar quarter.

BPCL chairman and Managing Director G Krishnakuma commenting on the performance said, "These achievements provide a strong foundation for BPCL's ambitious strategy ‘Project Aspire,’ which, at a planned capital outlay of Rs 1.7 lakh crore over five years, will fuel our next wave of growth to create long-term value for our shareholders".

Regarding the outlook, BPCL expects crude oil prices to remain between $83-87 per barrel soon. The company is planning to expand its refining capacity to 45 million metric tonnes per annum and add 4,000 new fuel stations by the Financial Year 2028-2029.