BPCL reports 33% jump in Q4 net profit | business | Hindustan Times
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BPCL reports 33% jump in Q4 net profit

State-owned Bharat Petroleum Corp Ltd today reported a 33% jump in its net profit in the quarter ended March 31 on back of higher refining margins.

business Updated: May 30, 2011 15:35 IST

State-owned Bharat Petroleum Corp Ltd (BPCL) on Monday reported a 33% jump in its net profit in the quarter ended March 31 on back of higher refining margins.

Net profit rose to Rs 935.18 crore in fourth quarter of 2010-11 fiscal from Rs 703.18 crore in the same period the previous year, BPCL said in a statement.

Total Income has increased from Rs 40,071.55 crore for the quarter ended March 31, 2010 to Rs 48,311.46 crore for the quarter ended March 31, 2011.

The board of directors of the company at its meeting held today recommended dividend of Rs 14 a share of Rs 10 each for the year 2010-11.

During 2010-11 fiscal, BPCL's profit inched to Rs 1,546.88 crore from Rs 1537.62 crore in the previous year.

BPCL said it has got Rs 9418.88 crore from the government as cash subsidy for selling diesel, domestic LPG and kerosene below cost in 2010-11 fiscal. Also, it got Rs 6,969.04 crore in assistance from upstream firms ONGC/GAIL.