BPCL Q1 Results: Profit Nearly Doubles To Rs 6,124 Crore On Low-Base Effect

Bharat Petroleum Corporation Ltd.'s net profit in the first quarter of this financial year nearly doubled to Rs 6,124 crore, according to the results declared by the company on Wednesday.

This is in comparison to profit of Rs 3,214.06 crore in the preceding quarter. However, BPCL had posted an exceptional loss of Rs 1,773.93 crore in the last quarter.

Revenue increased 1.2% sequentially for the three months ended June, reaching Rs 1.13 lakh crore. Operating income, or earnings before interest, taxes, depreciation, and amortisation, rose 24.4% quarter-on-quarter to Rs 9,663 crore. The Ebitda margin expanded to 8.6%.

• Revenue up 1.2% to Rs 1,12,514.65 crore versus Rs 1,11,178.96 crore.

• Net profit up 91% to Rs 6,123.93 crore versus Rs 3,214.06 crore.

• Ebitda up 24% to Rs 9,663.11 crore versus Rs 7,764.89 crore.

• Margin at 8.6% versus 7%.

The quarterly earnings was shared after market hours. The stock settled 0.37% lower at Rs 322.5 apiece on the NSE, compared to a 0.54% advance in the benchmark Nifty 50.

BPCL's shares have risen 0.25% in the last 12 months and 10.28% year-to-date.

Out of 33 analysts tracking the company, 22 maintains a 'buy' rating, seven recommends a 'hold' and four suggest 'sell', according to Bloomberg data. The average 12-month consensus price target of Rs 376.8 implies a potential upside of 16.8%.