New Delhi, May 28 (IANS) State-run oil marketer Bharat Petroleum Corp Ltd (BPCL) on Thursday reported a 30 percent drop in its net profit for the fourth quarter, compared to the same period last year, in the backdrop of falling crude oil prices in the last fiscal.
BPCL reported a net profit of Rs.2,853 crore for the quarter in question, compared to Rs.4,068 crore in the same quarter last fiscal.
Net sales for the quarter were at Rs.51,346 crore compared to Rs.74,736 crore in the same quarter of the last fiscal.
The company’s operating profit or EBITDA (earnings before interest, taxes, depreciation, and amortization) was at Rs.4,495 crore and its operating margin came at 8.8 percent.
Its gross refining margins fell to $3.62 per barrel against $4.33 per barrel year-on-year.
The board has recommended a dividend of Rs.22.50 per share.
BPCL stock closed Thursday at Rs.817.25 a share, up 2.57 percent over its previous close, on the Bombay Stock Exchange.
–Indo-Asian news Service
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