Bharat Petroleum Corporation Ltd (BPCL) reported a consolidated net profit of Rs 3,200.90 crore for the April-September quarter from Rs 2,263.05 crore a year ago.
The state-run oil refinery’s revenue from operations rose to ₹1,01,937.67 crore during the second quarter of FY22 from ₹66,331.22 crore last year, the company said in a regulatory filing.
The Board of Directors at its meeting held on Friday announced interim dividend of Rs 5 per share of stock.
“With business normalization and increased fuel demand, we are seeing robust growth in total petroleum product sales,” said VRK Gupta, Chief Financial Officer.
With global crude oil prices on the rise, we saw good growth in refining gross margins. The growth in revenue and net profit was mainly due to last year’s low base, which was affected by Covid-19 restrictions. We believe the rest of the year will see better sentiment prevail with the vaccination recovery and businesses returning to pre-Covid levels.”