BPCL Share Worth: Bharat Petroleum Firms Restricted (BPCL) shares traded beneath stress on Wednesday, November 9, as buyers’ sentiment turned unfavourable following the discharge of the July-September quarter outcomes. In keeping with an trade submitting, the oil advertising and marketing firm within the Q2FY23 posted a second consecutive quarterly loss.
Earlier on Monday, BPCL had launched its Q2 earnings whereby the corporate revealed that it posted a lack of Rs 304.17 crore. Within the first quarter, it posted a lack of Rs 6,263.05 crore. This was the very best ever loss reported by BPCL for any six-month interval, together with the period when petrol and diesel costs had been regulated and the federal government used to present subsidies to the three retailers.
The inventory opened at Rs 311.10 apiece on the NSE. At 11:20, it quoted Rs 306, falling greater than 1 per cent.
The mixed loss for the primary half of the present fiscal yr that started on April 1 now stands at Rs 21,201.18 crore.
Following the poor Q2 outcomes, brokerages have decreased their goal on the counter:
BPCL recorded a complete earnings of Rs 1,28, 702.42 crore as in comparison with final yr which was Rs 1,02,596.50 crore. The Web Revenue after tax stood at Rs 3,149.28 crore as in comparison with Rs 6,147.94 crore final yr. The corporate recorded a Web Income from Operations of Rs 1,28,355. 72 crore in Q2FY23 up from Rs 1,01,938. 72 crore in the identical quarter final yr. Q2 income, nonetheless, was decrease than Rs 1,38,424.50 crore recorded in Q1FY23.
Firm’s complete asset standing was at Rs 1,87,060.45 crore and complete liabilities was at Rs 1,38,295.17 crore.
The market gross sales of the Company for the half yr ended thirtieth September 2022 was 23.20 MMT as in comparison with 19.54 MMT for the half yr ended thirtieth September 2021.
The Common Gross Refining Margin (GRM) of the Company for half yr ended 30t h September 2022 is $22.30 per barrel (April-Sept 2021: $ 5.23 per barrel). That is earlier than factoring the influence of Particular Extra Excise Responsibility and Highway & Infrastructure Cess, levied w.e.f 01st July 2022. Nevertheless, the suppressed advertising and marketing margins of sure petroleum merchandise have offset the advantage of larger GRM.
The corporate within the regulatory submitting stated that the Company had suffered beneath recoveries on sale of home LPG within the Monetary Yr 2021-22 and in six months ended on September 30, 2022. To compensate the Company for these beneath recoveries, Authorities of India has just lately authorized a one-time grant of Rs 5,582 Crores. This receivable grant has been recorded beneath Income from Operations in Monetary Outcomes for the quarter and half yr ended September 30, 2022.
Impairment loss amounting to, 10.66 Crores (Earlier interval:, 6.84 Crores) has been acknowledged after intra group elimination, as per trade submitting.