Bharat Petroleum Corporation Ltd (BPCL) reported a 30% decline in its net profit for the March quarter due to lower refining margins, as disclosed in its stock exchange filing. Consolidated net profit for the fourth quarter of the fiscal year 2023-24 stood at Rs 4,789.57 crore compared to Rs 6,870.47 crore in the same period of the previous fiscal year.
Additionally, BPCL’s board approved a 1:1 bonus issue, entailing one additional share for each share held.
The company’s turnover remained nearly unchanged at Rs. 1.32 lakh crore compared to Rs. 1.34 lakh crore in the corresponding period of the previous fiscal year.
However, for the entire fiscal year 2023-24, BPCL posted a record net profit of Rs. 26,858.84 crore, a significant increase from Rs. 2,131.05 crore reported in the previous year.
