Companies

BPCL net climbs 33% on higher refining margins

PTI New Delhi | Updated on May 30, 2011

Bharat Petroleum Corporation Ltd has today reported a 33 per cent jump in its net profit during the fourth quarter ended March 31, 2011 on the back of higher refining margins.

The net profit rose to Rs 935.18 crore during the fourth quarter of 2010-11 fiscal from Rs 703.18 crore in the same period the previous year, BPCL said in a statement here today.

Total income has increased from Rs 40,071.55 crore for the quarter ended March 31, 2010 to Rs 48,311.46 crore for the quarter ended March 31, 2011.

The board of directors of the company at its meeting held today recommended a dividend of Rs 14 a share of Rs 10 each for the year 2010-11.

During 2010-11 fiscal, BPCL’s profit rose to Rs 1,546.88 crore from Rs 1,537.62 crore in the previous fiscal.

The company said it has got Rs 9,418.88 crore from the government as cash subsidy for selling diesel, domestic LPG and kerosene below cost in 2010-11 fiscal. Also, it got Rs 6,969.04 crore in assistance from upstream firms ONGC/GAIL.

Published on May 30, 2011

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