BPCL fell 1.15% to Rs 875.35 at 15:21 IST on BSE after net profit rose 95.37% to Rs 2376.16 crore on 22.88% decline in total income to Rs 52296.12 crore in Q1 June 2015 over Q1 June 2014.
The result was announced during market hours today, 14 August 2015.
Meanwhile, the BSE Sensex was up 523.11 points, or 1.90%, to 28,072.64.
On BSE, so far 3.23 lakh shares were traded in the counter, compared with an average volume of 1.29 lakh shares in the past one quarter.
The stock hit a high of Rs 908 and a low of Rs 871.65 so far during the day. The stock hit a record high of Rs 987 on 23 July 2015. The stock hit a 52-week low of Rs 598.35 on 26 September 2014.
The stock had underperformed the market over the past one month till 13 August 2015, falling 2.46% compared with 1.47% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 20.26% as against Sensex's 1.10% rise.
The large-cap public sector oil marketing company has an equity capital of Rs 723.08 crore. Face value per share is Rs 10.
BPCL's average gross refining margin (GRM) in Q1 June 2015 was $8.55 per barrel, higher than $3.38 per barrel in Q1 June 2014.
As advised by the Ministry of Petroleum & Natural Gas, BPCL has accounted compensation towards sharing of under-recoveries on sale of sensitive petroleum products. The company reported Rs 203.33 crore in Q1 June 2015 (Q1 June 2014: Rs 3830.56 crore) discount on crude oil/products purchased from ONGC/GAIL/NRL, which has been adjusted against the purchase cost.
The company recorded Rs 404.02 crore compensation advised by the Government of India by way of subsidy for Q1 June 2015 (Q1 June 2014: Rs 2407.96 crore) accounted as net sales from operations.
The net under-recovery absorbed by the company was NIL in Q1 June 2015 compared with Rs 503.87 crore in Q1 June 2014, on sale of petroleum products.
Meanwhile, the market sales for the quarter ended 30 June 2015 was lower at 9 MMT when compared to 9.10 MMT achieved during the corresponding period of previous year. The decrease was mainly in HSD - Retail (-2.52%) and Naptha (-91.76%) partly offset by increase in MS - Retail (9.92%) and LPG (10.94%).
The Government of India held 54.93% stake in BPCL (as per the shareholding pattern as on 30 June 2015).
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