Bharat Petroleum Corporation (BPCL) has reported Rs 1,900.63 crore consolidated profit for the third quarter of financial year 2020-2021. This is a fall from the Rs 2,051.43 crore profit reported by the company in the same months of the previous financial year.
The BPCL Board declared an interim dividend of Rs 16 per equity share of face value Rs 10 each or 160 per cent. The record date to determine eligibility has been fixed as February 19, 2021.
Despite the lower profit, BPCL reported a higher consolidated total income at Rs 88,027.16 crore in the quarter under review. This is up 1.8 per cent from Rs 86,495.22 crore in the comparable months of the financial year 2019-2020.
The centre is in the process of divesting its stake in this public sector undertaking. In the nine months from April to December 2020, the average gross refining margin, or gain per barrel of crude oil processed, stood at $2.90 per barrel, down from $ 3.15 a barrel in the same months of 2019.
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