Bharat Petroleum Corp.'s fourth-quarter profit rose to Rs 4,224 crore, but missed analysts' estimates.
The company's net profit increased 24.34% quarter-on-quarter to Rs 4,224 crore in the January-March period, according to its exchange filing on Thursday. This compares with a Rs 5,342-crore consensus estimate of analysts tracked by Bloomberg.
The board also approved a bonus issue in the ratio of 1:1, indicating that a shareholder holding one share of the company will be issued one more. The record date set for the same is June 22.
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Bharat Petroleum Q4 FY24 Highlights (Standalone, QoQ)
Revenue up 1.62% to Rs 1.17 lakh crore (Bloomberg estimate: Rs 1.2 lakh crore).
Ebitda up 47.97% to Rs 9,213 crore (Bloomberg estimate: Rs 8,766 crore).
Margin at 7.9% vs 5.39% (Bloomberg estimate: 5.4%).
Net profit up 24.34% to Rs 4,224 crore (Bloomberg estimate: Rs 5,342 crore).
Gross Refining Margin
Bharat Petroleum's average gross refining margin for fiscal 2024 stood at $14.14 per barrel, as compared with $20.24 per barrel margin in the previous financial year.
Operational Highlights
Bharat Petroleum's refinery throughput for the quarter rose 5.1% sequentially to 10.36 million metric tonne.
The oil marketer's market sales also saw a 2% uptick to 13.18 million metric tonne. For export sales, however, there was a 18% dip to 0.23 million metric tonne.
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