BPCL posts four-fold jump in net profit, meets estimates

Meeting analyst estimates, state-run Bharat Petroleum Corporation Limited (BPCL) has posted higher-than-expected earnings for the fourth quarter of financial year 2011-12.

The company's net profit jumped over four times to Rs 3,962.83 crore in the fiscal fourth quarter against Rs 935.18 crore in the corresponding quarter last year.

Higher throughput helped the company's sales jump nearly 43 per cent at Rs 64,642.18 crore over Rs 45,251.51 crore in the corresponding previous quarter, the company said in a press statement.

Its average gross refining margin for the year stood at $3.16 a barrel compared to $4.47 per barrel in the previous year.

The company's board also recommended issue of bonus shares in the ratio of 1:1.

The board recommended a dividend of Rs 11 for 2011-12.

BPCL’s scrip closed at Rs 731.10, up 0.72 per cent, on the Bombay Stock Exchange.