Bharat Petroleum Corporation (BPCL) gained 1.46% to Rs 423.85 after the company's standalone net profit jumped 19.9% to Rs 2,694.10 crore on a 62.6% surge in net sales to Rs 81,536.67 crore in Q2 September 2021 over Q2 September 2020.
Refinery Thoughtput soared 27.17% to 7.16 metric million tonnes (MMT) in Q2 FY22 as compared to 5.63 MMT in Q2 FY21. Market sales grew 10.85% to 9.91 MMT in Q2 FY22 as against 8.94 MMT in Q2 FY21. Sales growth stood at 10.85% in Q2 FY22 over (12.78%) in Q2 FY21. Export sales surged 71.42% to 0.48 MMT in Q2 FY22 from 0.28 MMT in Q2 FY21.
On a half-yearly basis, the market sales of the corporation as of 30 September 2021 stood at 19.54 metric million tonnes (MMT) as compared to 16.47 MMT achieved during half year ended 30 September 2020. The increase was mainly in: MS-Retail (25.20%), HSD- Retail (16%) and ATF (53.76%). The Average Gross Refining Margin (GRM) of the corporation during half year ended 30 September 2021 stood at $5.11 per barrel as compared to $3.19 per barrel in April - September 2020.
Meanwhile, Bharat Petroleum Corporation (BPCL) is planning to raise up to Rs 3,000 crore during the current FY2021-22 through private placement of unsecured non-convertible debentures (NCDs). The debentures are proposed to be listed on debt market segment of the BSE and NSE.
The board on Friday, 29 October 2021, declared an interim dividend of Rs 5 per equity share of face value Rs 10 each i.e. 50% on the paid-up equity share capital of the company for the FY 2021-22. The board has fixed Friday, 12 November 2021 as record date to determine the eligibility of the shareholders to receive the interim dividend.
BPCL is the second largest Indian oil marketing company. It is engaged in refining of crude oil and marketing of petroleum products, with a significant presence in the upstream and downstream sectors of the oil and gas industry. The Government of India holds 52.98% stake in BPCL as of 30 September 2021.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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