BPCL Announces Quarterly Results (1QFY22); Net Profit Up 22.1%

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BPCL Announces Quarterly Results (1QFY22); Net Profit Up 22.1%
Mon, 16 Aug

BPCL has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

BPCL Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Net SalesRs m509,092997,332897,123-10.0%76.2%
Other incomeRs m5,3706,7684,191-38.1%-22.0%
TurnoverRs m514,4621,004,100901,313-10.2%75.2%
ExpensesRs m466,432934,326865,873-7.3%85.6%
Gross profitRs m42,599123,76544,239-64.3%3.9%
DepreciationRs m10,72811,23711,4992.3%7.2%
InterestRs m6,9115,7915,8230.6%-15.7%
Profit before taxRs m30,330113,50531,108-72.6%2.6%
TaxRs m8,93011,4414,988-56.4%-44.1%
Profit after taxRs m21,400102,06426,120-74.4%22.1%
Gross profit margin%8.412.44.9
Effective tax rate%29.410.116.0
Net profit margin%4.210.22.9
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 76.2% on a year-on-year (YoY) basis. The expenses were up by 85.6% YoY during the same period.
  • The company's operating profit increased by 3.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.9% in 1QFY22 as against 8.4% in 1QFY21.
  • Depreciation charges increased by 7.2% and finance costs declined by 15.7% YoY, respectively.
  • Other income declined by 22.0% YoY during the quarter.
  • Net profit for the quarter increased by 22.1% YoY. Net profit margins during the quarter declined from 4.2% in 1QFY21 to 2.9% in 1QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 10.0% on a quarter-on-quarter (QoQ) basis. The expenses were down by 7.3% QoQ during the same period.
  • The company's operating profit declined by 64.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.9% in 1QFY22 as against 12.4% in 4QFY21.
  • Net profit for the quarter declined by 74.4% QoQ, while net profit margins declined from 10.2% in 4QFY21 to 2.9% in 1QFY22.

To see how BPCL has performed over the last eight quarters,please visit here.

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BPCL Share Price Performance

Over the last one year, BPCL share price has moved up from Rs 413.3 to Rs 463.8, registering a Gain of Rs 50.6 or around 12.2%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 15,894.0 (up 0.9%). Over the last one year it has moved up from 13,189.1 to 15,894.0, a gain of 2,705 points (up 20.5%).

Overall, the S&P BSE SENSEX is up 44.8% over the year.

Current Valuations

At the current price of Rs 463.8, the price to earnings (P/E) ratio of BPCL stands at 5.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.8 times.

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