Bharat Petroleum Corporation (BPCL) reported revenue from operations of Rs 301,864.98 crore for the year April-March 2021.
For the full year (FY21), BPCL posted its highest-ever profit of Rs 19,041.67 crore as compared to Rs 2,683.19 crore in the previous year.
The total income of BPCL during Q4 FY21 increased to Rs 1,00,419.63 crore from Rs 82,452.99 crore seen in the same quarter of previous year.
BPCL posted a net profit of Rs 11,940.13 crore for the quarter ended March 31, 2021, as against net loss of Rs 1,361.01 crore in the same quarter last year.
The turnaround witnessed by the company in its profitability is largely on account of inventory gains, and also on account of a V-shape recovery seen by the company in the second half of financial year resulting in robust growth in fuel sales.
“As number of Covid-19 cases went down in Jan-Mar 2021 quarter, we witnessed good growth in fuel sales and other petrochemical products following recovery in the economy,” BPCL’s Director (Finance) N. Vijayagopal said.
BPCL’s gross refining margins (GRMs) for the year stood at $4.06 per barrel and for Jan-Mar 2021 period at $6.64 per barrel. Its EBITDA was at Rs 27,923.99 crore; EBITDA margin was at 9 per cent in FY21 and 14 per cent in Q4FY21. The debt-equity ratio as on March 31, 2021 was at 0.48x (as against 1.26x in FY20).
Total market sales of BPCL were 38.74 MMT in FY 21. The company also added 2,444 new fuel stations, taking their network strength to 18,637, the 2nd second highest retailing network in India. BPCL said the Company Owned Company Controlled Outlets network increased to 324 with 12 additions this year.