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      BPCL retracts on disappointing Q1 results

      MoM Team / Mumbai, Aug 14, 2017 11:09 AM IST

        BPCL retracts on disappointing Q1 results

        BPCL shed 2.3 percent to Rs 473 on BSE after net profit fell 71.6 percent to Rs 744.56 crore on 21.7 percent growth in net sales to Rs 57125.80 crore in Q1 June 2017 over Q1 June 2016.

        The result was announced after market hours on Friday, 11 August 2017.

        Meanwhile, the S&P BSE Sensex was up 256.20 points or 0.82 percent at 31,469.79.

        On the BSE, 78,605 shares were traded on the counter so far as against the average daily volumes of 1.78 lakh shares in the past one quarter. The stock had hit a high of Rs 485.15 and a low of Rs 465.75 so far during the day. The stock had hit a record high of Rs 530 on 8 August 2017. The stock had hit a 52-week low of Rs 375.64 on 12 September 2016.

        The stock had outperformed the market over the past one month till 11 August 2017, gaining 7.17 percent compared with the Sensex's 1.68 percent decline. The stock had, however, underperformed the market over the past one quarter, declining 0.35 percent as against the Sensex's 3.18 percent rise. The scrip had, however, outperformed the market over the past one year, gaining 21.99 percent as against the Sensex's 12.04 percent rise.

        The large-cap company has equity capital of Rs 2169.25 crore. Face value per share is Rs 10.

        BPCL's average gross refining margin (GRM) fell to $4.88 per barrel in Q1 June 2017 from $6.09 per barrel in Q1 June 2016.

        The company has accounted compensation towards sharing of under-recoveries on sale of sensitive petroleum products of Rs 196.75 crore by way of subsidy for Q1 June 2017 compared to Rs 307.28 crore in Q1 June 2016 accounted as revenue from operations.

        The net under-recovery absorbed by the corporation on sale of sensitive petroleum products is nil in Q1 June 2017 and Q1 June 2016.

        BPCL is a state-run oil refining-cum-marketing company. The Government of India held 54.93 percent stake in BPCL (as per the shareholding pattern as on 30 June 2017).


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      Source: Capital Market



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