BPCL Announces Quarterly Results (3QFY21); Net Profit Up 120.3%

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BPCL Announces Quarterly Results (3QFY21); Net Profit Up 120.3%
Thu, 11 Feb

BPCL has announced its results for the quarter ended December 2020. Here is a detailed performance review of the same:

BPCL Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-19*
3
Sep-20*
3
Dec-20*
QoQ ChangeYoY Change
Net SalesRs m853,683659,125865,80031.4%1.4%
Other incomeRs m5,1485,72615,146164.5%194.2%
TurnoverRs m858,832664,851880,94532.5%2.6%
ExpensesRs m826,650620,613822,74232.6%-0.5%
Gross profitRs m27,03437,26638,8634.3%43.8%
DepreciationRs m9,7319,8889,9360.5%2.1%
InterestRs m5,1211262,5101885.7%-51.0%
Profit before taxRs m17,33032,97841,56226.0%139.8%
TaxRs m4,72410,50013,78631.3%191.8%
Profit after taxRs m12,60622,47827,77623.6%120.3%
Gross profit margin%3.25.74.5
Effective tax rate%27.331.833.2
Net profit margin%1.53.43.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 1.4% on a year-on-year (YoY) basis. The expenses were down by 0.5% YoY during the same period.
  • The company's operating profit increased by 43.8% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 4.5% in 3QFY21 as against 3.2% in 3QFY20.
  • Depreciation charges increased by 2.1% and finance costs declined by 51.0% YoY, respectively.
  • Other income increased by 194.2% YoY during the quarter.
  • Net profit for the quarter increased by 120.3% YoY. Net profit margins during the quarter increased from 1.5% in 3QFY20 to 3.2% in 3QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 31.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 32.6% QoQ during the same period.
  • The company's operating profit increased by 4.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 4.5% in 3QFY21 as against 5.7% in 2QFY20.
  • Net profit for the quarter increased by 23.6% QoQ, while net profit margins declined from 3.4% in 2QFY20 to 3.2% in 3QFY21.

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 down from Rs 480.9 to Rs 421.9, registering a Loss of Rs 59.1 or around 12.3%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 15,012.2 (up 1.5%). Over the last one year it has moved up from 14,234.8 to 15,012.2, a gain of 777 points (up 5.5%).

Overall, the S&P BSE SENSEX is up 25.8% over the year.

Current Valuations

At the current price of Rs 421.9, the price to earnings (P/E) ratio of BPCL stands at 15.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.5 times.

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