Bharat Petroleum Q4 Results: Profit Rises 24%, But Misses Estimates
The company's net profit increased 24.34% quarter-on-quarter to Rs 4,224 crore in the January-March period.
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.
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.
