State-run oil marketing company Bharat Petroleum Corporation Ltd has posted a 15.2 per cent dip in net profit for the fourth quarter ended March 31, due to higher expenses and increase in tax outgo. The Mumbai-headquartered company recorded a net profit of ₹4,068 crore (₹4,797 crore in the corresponding previous quarter).
Revenue for the quarter increased by 12.75 per cent to ₹74,772 crore (₹66,311 crore).
Total expenses rose by 14.46 per cent to ₹69,033 crore (₹60,311 crore) while tax expenses surged 35.5 per cent to ₹1,888 crore (₹1,393 crore). The gross refining margin for the quarter was $6.63 a barrel, against $6 a barrel in the year-ago period, a company official said. He added that BPCL had received subsidy payouts for a couple of quarters in Q4 of 2012-13, because of which there appeared to be a fall in net profit for Q4 of 2013-14.
For the full year ended March 31, 2014, the company reported a 53.65 per cent rise in net profit to ₹4,061 crore (₹2,643 crore) while revenue went up by 8.3 per cent to ₹2,60,061 crore (₹2,40,116 crore).
Shares of BPCL ended 0.96 per cent lower to close at ₹536.5 on the Bombay Stock Exchange.