BPCL's Q1 net up 11 per cent amidst cost reduction

Bharat Petroleum Corporation, the largest oil marketing company by market capitalisation, has announced its Q1FY17 results where top-line numbers remain marginally down while bottom-line numbers have risen with reduced operating costs.

BPCL’s crude output has risen 6.2 MMT from 6.07 MMT YoY. Market sales have risen 9.73 MMT from 9 MMT in the corresponding quarter of the previous year. Export sales have risen 0.32 MMT as against 0.27 MMT in Q1FY16.

The stock of BPCL is hovering at all time high of 610-620 levels. The results were out after market hours on Aug 31. The stock remained volatile ahead of results and closed at Rs 602.35 with 0.82 per cent losses.

Company’s revenues for Q1FY17 has come in at Rs 56967.23 crore as against Rs 58767.77 crore, a decrease of 3 per cent. However, with reduced raw material and decreased inventories, EBITDA has risen 3 per cent at Rs 3919.19 crore as against Rs 3805.98 crore in the same quarter of previous year. Meanwhile Company’s other income has risen 10.7 per cent at Rs 364.90 crore as compared to Rs 329.62 crore. Thereby net profit has risen 11 per cent from Rs 2376.16 crore for Q1FY16 to Rs 2620.50 crore.

The quarter on quarter (QoQ) results show that, Company’s revenues have risen by 29 per cent from Rs 44145.54 crore in Q4FY16. EBIDTA of company has risen by 12.3 per cent from Rs 3489.58 crore. Net profit (PAT) has remained stable with an increase of just 2.8 per cent where other income remained nearly half.