Posts Highest Ever Half-Yearly Profit of Rs. 19,052 Crores

Bharat Petroleum Corporation Limited (BPCL), one of India’s main vitality corporations, has introduced a exceptional monetary achievement, reporting its highest ever half-yearly revenue of Rs. 19,052 Crores for the fiscal yr 2023-24. This achievement is a testomony to BPCL’s unwavering dedication to excellence, progress, and strategic innovation.

Shri G. Krishnakumar, C&MD, BPCL

Q2 FY 23-24 Net Profit Surpasses Expectations

BPCL’s standalone internet revenue for the second quarter of FY 23-24 stood at a powerful Rs. 8,501 Crores, a big turnaround from the loss of Rs. 304 Crores reported in Q2 FY22-23. The consolidated internet revenue for a similar quarter reached Rs. 8,244 Crores, marking a exceptional restoration from the loss of Rs. 338 Crores within the earlier fiscal yr.

Key Highlights and Strategic Milestones

This distinctive monetary efficiency coincides with a number of pivotal developments which might be shaping BPCL’s future:

1. Robust Financial Resilience: Despite difficult market circumstances, BPCL’s gross refining margins (GRM) for the interval of April – September 2023 exhibited resilience at $15.42/bbl, earlier than factoring the influence of Special Additional Excise Duty and Road & Infrastructure Cess, levied w.e.f 01st July 2022.

2. Standalone EBITDA Growth: The standalone EBITDA for Q2 FY 23-24 reached a powerful Rs. 13,679.21 Crores, a considerable enchancment from Rs. 1,991.41 Crores in Q2 FY 22-23. The EBITDA margin additionally noticed important progress, rising to 11.73% in Q2 FY 23-24 from 1.55% in Q2 FY 22-23.

3. Strong Financial Foundations: BPCL’s dedication to monetary stability is obvious within the lowered debt-equity ratio, which was reported at 0.32x as of September 30, 2023, down from 1.10x a yr in the past.

4. Foundation Stone Laying for Bina Refinery Petrochemical Complex: Hon’ble Prime Minister Shri Narendra Modi laid the muse stone of a groundbreaking Rs. 49,000 crore Petrochemicals advanced at BPCL’s Bina Refinery, signaling a big step towards enlargement and innovation.

5. Brand Ambassador Rahul Dravid: The legendary Rahul Dravid was appointed because the model ambassador for BPCL’s ‘Pure for Sure’ initiative and MAK lubricants. His affiliation with BPCL has been marked by the launch of a model marketing campaign titled ‘Aapki Gaadi Ka Mr. Dependable‘, emphasizing the belief and reliability that BPCL provides to its prospects.

Remarkable Physical Performance

BPCL’s exceptional monetary efficiency is complemented by its sturdy bodily efficiency indicators:

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  In the present quarter, throughput rose to 9.35 MMT from 8.82 MMT in Q2 of FY 22-23, reflecting a optimistic development in market gross sales, which elevated to 12.19 MMT in Q2 FY 23-24 from 11.44 MMT in Q2 of FY 22-23, marking a progress of 6.56%.

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  During the interval of April to September 2023, throughput elevated to 19.71 MMT from 18.51 MMT within the comparative interval, whereas market gross sales for a similar interval surged to 24.94 MMT from 23.20 MMT, indicating a powerful progress of 7.50%.

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  BPCL additionally achieved its highest-ever Average Ethanol Blending share of 11.98% throughout H1 FY 23-24, showcasing a dedication to sustainable practices.

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  The enlargement of BPCL’s community with 300 new gasoline stations introduced the full to 21,331. The Company Owned Company Operated Outlets community expanded to 338 with 11 new additions throughout H1 2023-24.

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  BPCL prolonged FINO companies to 13,722 gasoline stations, guaranteeing comfort for patrons. The addition of 14 new distributors in H1 FY 2023-24 expanded the LPG distributor community energy to six,245, with the shopper base reaching 9.23 Crore.

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  To meet the rising demand for clear vitality, 44 new CNG stations had been commissioned in H1 FY23-24, bringing the full CNG stations to 1,640 as of September 30, 2023.

Shri G. Krishnakumar, C&MD, BPCL said, “I’m delighted to share that we’ve got achieved a half yearly internet revenue of ₹ 19,052 crores which is unprecedented within the annals of BPCL’s historical past.

This achievement will spur us to scale larger heights for advancing progress and the bigger goal of nation constructing. It wouldn’t have been doable with out the help of our esteemed workers, prospects & enterprise companions who’ve steadfastly stood by us and contributed to our journey over time.”

Q2FY24 Financial Highlights

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H1FY24 Financial Highlights

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About Bharat Petroleum Corporation Ltd. (BPCL)

Fortune Global 500 Company, Bharat Petroleum is the second largest Indian Oil Marketing Company and one of the premier built-in vitality corporations in India, engaged in refining of crude oil and advertising of petroleum merchandise, with a big presence within the upstream and downstream sectors of the oil and gasoline business. The firm attained the coveted Maharatna standing, becoming a member of the elite membership of corporations having larger operational & monetary autonomy.

Bharat Petroleum’s Refineries at Mumbai, Kochi and Bina Refinery have a mixed refining capability of round 35.3 MMTPA. Its advertising infrastructure features a community of installations, depots, vitality stations, aviation service stations and LPG distributors. Its distribution community contains over 21,000 Energy Stations, over 6,200 LPG distributorships, 525 Lubes distributorships, 123 POL storage places, 53 LPG Bottling Plants, 70 Aviation Service Stations, 4 Lube mixing vegetation and 4 cross-country pipelines.

Bharat Petroleum is integrating its technique, investments, environmental and social ambitions to maneuver in direction of a sustainable planet. The firm has chalked out the plan to supply electrical car charging stations at round 7000 vitality stations over subsequent 5 years.

With a concentrate on sustainable options, the corporate is growing a vibrant ecosystem and a road-map to develop into a Net Zero Energy Company by 2040, in Scope 1 and Scope 2 emissions. Bharat Petroleum has been partnering communities by supporting innumerable initiatives linked primarily within the areas of training, water conservation, talent improvement, well being, neighborhood improvement, capability constructing and worker volunteering. With ‘Energising Lives’ as its core goal, Bharat Petroleum’s imaginative and prescient is to be probably the most admired world vitality firm leveraging expertise, innovation & expertise.