BPCL skids after reporting dismal Q4 numbers

BPCL dropped 3.21% to Rs 731.75 at 11:30 IST on BSE after net profit fell 12.96% to Rs 1841.68 crore on 24.17% growth in total income to Rs 66685.61 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 29 May 2017.

The stock had risen 8.58% in five sessions to Rs 756 yesterday, 29 May 2017, from a close of Rs 696.20 on 22 May 2017, ahead of its Q4 results.

Meanwhile, the S&P BSE Sensex was up 53.46 points or 0.17% at 31,162.74.

On the BSE, 93,091 shares were traded on the counter so far as against the average daily volumes of 1.66 lakh shares in the past one quarter. The stock had hit a high of Rs 747 and a low of Rs 725.75 so far during the day. The stock had hit a record high of Rs 769.85 yesterday, 29 May 2017. The stock had hit a 52-week low of Rs 461 on 24 June 2016.

The stock had outperformed the market over the past one month till 29 May 2017, rising 5.11% compared with the 3.98% gains in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 12.9% as against Sensex's 8.23% gains.

The large-cap company has equity capital of Rs 1446.17 crore. Face value per share is Rs 10.

BPCL's board recommended a final dividend of Re 1 per share for the year ended 31 March 2017 (FY 2017).

The net under-recovery absorbed by the company was nil in Q4 March 2017 and also in Q4 March 2016 on sale of sensitive petroleum products.

The average gross refining margin in Q4 March 2017 fell to $6.01 per barrel in Q4 March 2017 from $6.3 per barrel in Q4 March 2016.

BPCL's board recommended 1:2 bonus issue of shares.

BPCL is a state-run oil refining-cum-marketing company. The Government of India held 54.93% stake in BPCL (as per the shareholding pattern as on 31 March 2017).

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