Oil major Bharat Petroleum Corporation Ltd has raked in four times more profit in the January-March quarter.
The oil marketing major clocked a net profit of Rs 3,962 crore for the quarter ended March 31, compared with Rs 935 crore in the year-ago period.
However, in fiscal 2011-12, the company recorded a lower profit of Rs 1,311 crore, compared with Rs 1,546 crore the previous year.
The company's board has recommended a 1:1 bonus and a dividend of Rs 11 a share.
The gross refining margin for the quarter was $4.15 ($6.94).
Net sales in the quarter have shown an increase of 42 per cent at Rs 64,642 crore (Rs 45,251 crore).
In FY12, net sales were higher at Rs 211,866 crore, while for the previous year it was Rs 151,545 crore.
In the fourth quarter, BPCL got Rs 4,333 crore as discount on crude oil, kerosene and LPG purchased from ONGC and GAIL, which was Rs 3,418 crore in the year-ago quarter.
In FY12, BPCL got Rs 12,957 crore as discount compared with Rs 6,960 crore in the previous year.
The subsidy disbursement by the Centre was Rs 9,153 crore in the fourth quarter (Rs 4,661crore). The subsidy amount has been accounted as net sales from operations.
The shares of BPCL closed at Rs 731. 10 a share, up by Rs 5.20 over the previous close.
rahulw@thehindu.co.in