Bharat Petroleum Corporation (BPCL) on Wednesday reported a 74 per cent Y-o-Y decline in its consolidated net profit to Rs 2,802.74 crore for the fourth quarter in FY22. On a sequential basis, profit fell marginally from Rs 2,805.09 crore in Q3 FY22.

The oil marketing company (OMC) posted a 23 per cent Y-o-Y growth in its consolidated total income to Rs 1,23,819.19 crore in Q4 FY22. On a quarter-on-quarter basis, income rose by 4.8 per cent.

During the January-March quarter last fiscal, BPCL’s cost of materials consumed rose to Rs 55,384.67 crore from Rs 44,054.79 crore in Q3 FY22 and Rs 31,086.33 crore in Q4 FY21.

The board has recommended a final dividend of Rs 6 per equity share for FY22. The final dividend is in addition to the first and second interim dividends, each of Rs 5 per equity share, paid for FY22.

For the entire FY22, the refiner’s consolidated net profit was lower at Rs 11,681.50 crore from Rs 17,319.83 crore in FY21. Consolidated total income was higher at Rs 4,34,838.16 crore from Rs 3,06,519.32 crore during the same period.

Other Expenses for FY22 includes Rs 283.35 crore on account of foreign exchange loss as against foreign exchange gain of Rs 201.37 crore for FY21, which was included in other income, BPCL said in a stock exchange filing.

BPCL’s market sales for FY22 stood at 42.51 million tonnes (MT) compared to 38.74 MT for FY21. The growth is mainly in MS-Retail (13.05 per cent Y-o-Y), HSD-Retail (6.64 per cent Y-o-Y) and ATF (31.91 per cent Y-o-Y). Its average Gross Refining Margin (GRM) for FY22 stood at $9.09 per barrel against $4.06 a barrel in FY21, it added.

The merger of wholly-owned subsidiaries, Bharat Oman Refineries and Bharat Gas Resources, with the company is under process and will be completed after obtaining the necessary approvals.

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