Q2 FY2021 Results: BPCL posts profit of Rs 2,589.52 crore, 58% YoY

The company reported a net profit of Rs 2,589.52 crore for the September quarter, a 58% growth YoY. It had posted a profit of Rs 1,634.32 crore in the corresponding quarter previous year.

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Bharat Petroleum Corporation Ltd. (BPCL) on Wednesday announced its Q2 FY2021 results. The company reported a net profit of Rs 2,589.52 crore for the September quarter, a 58% growth YoY. It had posted a profit of Rs 1,634.32 crore in the corresponding quarter previous year.

The oil refinery posted a total income of Rs 66,635.94 crore during the Q2 FY2021 period as compared to Rs 76,044.22 crore during the FY2020 period. In the previous quarter, it posted Rs 51,446.23 crore revenue.

The Mumbai based company has reported diluted Earnings per Share (EPS) of Rs 11.51 for the period. It had posted EPS of Rs 10.35 for the previous Q1 June period.

The company in its BSE regulatory filing stated, “Provision has been recognized in the financial results of one of the Subsidiary Bharat Petro Resources limited (BPRL) aggregating to Rs 571.88 Crores (April-Sep 2019, 110.72 Crores) in respect of impairment of blocks ( NELP-CB-ONN-2010/08 for Rs 0.36 Crores, NELP-CBB-ONN-2010/11 for Rs 2.92 Crores, NE LP-VI-CY-ONN/2004/02 for Rs 4.27 Crores, EP413 Australia for Rs 104.26 Crores, Nunukan block in Indonesia (held through wholly owned subsidiary) for Rs 100.96 Crores and Block POT 16 in Brazil (held through JV of wholly owned subsidiary) for Rs 359.11 Crores).”