BPCL Q3 FY22: Consolidated net profit sees robust 48% rise, standalone profit down 11%

• On standalone basis, BPCL has registered an 11 percent decline in net profit at Rs 2,462.45 crore in the December quarter of FY22
• The same trend is visible in the April-December period when BPCL has registered a 33 percent rise in consolidated net profit but a 6 percent decline in standalone net profit 

New Delhi: Disinvestment-bound Bharat Petroleum Corporation Ltd (BPCL) has posted a robust 48 percent rise in consolidated net profit at Rs 2,805.09 crore in Q3 of FY22, up from Rs 1,900.63 crore recorded in the corresponding quarter of FY21. However, on standalone basis, the PSU has registered an 11 percent decline in net profit at Rs 2,462.45 crore in the December quarter of FY22. The PSU had recorded a standalone net profit of Rs 2,777.62 crore in the corresponding quarter of FY21.

The same trend is visible in the nine-month April-December period when BPCL has registered a 33 percent rise in consolidated net profit at Rs 8,878.76 crore but a 6 percent decline in standalone net profit for the period at Rs 6,658.20 crore.

BPCL's revenue from operation increases substantially

On both standalone and consolidated basis, BPCL has registered a healthy increase in revenue from operations. While BPCL's consolidated revenue from operations went up by 35 percent to settle at Rs 1,17,702.59 crore in Q3 of FY22, the standalone figure 37 percent to settle at Rs 1,18,536.76 crore. For the April-December period of FY22, BPCL's revenue from operations grew by 51 percent on consolidated basis and by 53 percent on standalone basis.

EBITDA was at Rs 4,895.61 crore in Q3 FY22 as compared to Rs 5,400.84 crore in Q3FY21, down by about 9 percent. EBITDA margin was at 4.13 percent in Q3 FY22 as against 6.24 percent in Q3 FY21. BPCL's gross refining margins (GRMs) for the period stood at US$ 9.68 per barrel for Q3 FY22 as against US$ 2.47 per barrel in Q3 FY21.

'BPCL has crossed Rs 3-lakh-cr revenue for 1st time in history'

Commenting on BPCL's Q3 FY22 performance, Director (Finance) VRK Gupta said, "With normalisation of business and fuel demand rising, this quarter has seen growth in market share of MS and HSD. We are witnessing good growth in overall petroleum products sales closer to pre-pandemic levels which has helped us to cross Rs 3 lakh crore revenue for nine months for the first time in history of BPCL. Increase in cracks of major petroleum products in international market coupled with refinery running at full capacity helped us to report stupendous refinery margins. With commissioning of our third unit of PDPP in December 2021, all our PDPP units in Kochi are fully commissioned."

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