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Bharat Petroleum Corporation Ltd (BPCL) on Thursday reported a net profit of ₹2,549 crore for the March 2016 quarter, down over 10 per cent from ₹2,852 crore in the corresponding period last year.
For the full fiscal, however, the company reported consolidated net profit of ₹7,981.51 crore, up 66 per cent from ₹4,806 crore in FY15. The company sold 36.53 million tonnes (34.45 mt) of refined petroleum products in FY16. BPCL achieved a gross refining margin of $6.59 ($3.62) a barrel for the full year.
It received compensation of ₹198 crore from upstream companies such as ONGC as under-recoveries for discounting the selling price of sensitive petroleum products like kerosene and LPG.
The company’s board recommended a final dividend of ₹15 per share, in addition to an interim dividend of ₹16 a share that has already been distributed. It also recommended the issue of bonus shares in the ratio of 1:1.
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