BPCL’s net profit for the quarter ended March 31, 2012, rose 323.83 per cent to Rs. 3,962.83 crores from Rs. 935 crores in the year-ago period. The results were largely in line with estimates.
Analysts on an average expected the company to post a net profit of Rs. 4,053 crores during the quarter. BPCL’s net profit was seen increasing 333 per cent YoY to Rs. 4,053 crores.
Total sales increased nearly 43 per cent to Rs. 64,642.18 crores in the fourth quarter from Rs. 45,251.51 crores for the March 2011 quarter. The average gross refining margins for the current year ended March 31, 2012, at $3.16 a barrel compared with $4.47 per barrel in the previous year.
The Board has announced a bonus issue in the ratio of 1:1 and a dividend of Rs. 11 per share.