Bharat Petroleum Corporation Limited (BPCL) is an Indian central public sector undertaking under the ownership of Ministry of Petroleum and Natural Gas, Government of India. It operates three refineries in Bina, Kochi and Mumbai. BPCL is India’s second-largest government-owned downstream oil producer, whose operations are overseen by the Ministry of Petroleum and Natural Gas. It was ranked 309th on the 2020 Fortune list of the world’s biggest public sector undertakings, and 792nd on the list of Forbes’s 2021 “Global 2000”.

Bharat Petroleum Corporation Limited (BPCL) has reported a tremendous growth of 145% in their consolidated net profit at Rs 6,870 crore for the quarter ended March 31, 2023. The company had reported a net profit of Rs 2,803 crore in the corresponding quarter of the last year. Sequentially, the net profit surged massively by 300 % from Rs 1,747 crore in the December quarter (Q3FY23).

BPCL’s revenue from operations have grown by 13% to Rs 1.88 lakh crore in the March quarter as compared to Rs 1.04 lakh crore in the March quarter of the previous financial year.

BPCL has made a statement that the company has recorded the highest revenue historically from operations for FY23 which is Rs 4.73 lakh crore as compared to Rs 3.46 lakh crore in FY22.

The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) has grown vigorously to Rs 11,085 crore from Rs 4,213 crore on sequentially. The EBITDA margin was computed at 9.4% as compared to 3.5% sequentially.

Additionally, BPCL has registered its highest-ever market sales of 48.92 MMT historically for the period from April to March 2023 as compared to 42.51 MMT in the same period during 2022, which is a growth of 15 percent.

The company’s board has recommended a final dividend of Rs 6 per equity share of face value of Rs 10 each, for the FY23, which is subject to the approval of the shareholders.

BPCL has made an announcement that the company plans to install an ethylene cracker project at Bina in Sagar district, Madhya Pradesh, for the expansion of its refinery capacity with a capital expenditure of around Rs 49,000 crore. The main element of the expansion project is the ethylene cracker, that will support the production of vital petrochemicals. The project also comprises with the installation of an ethylene cracker (EC) complex and downstream petrochemical plants.

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