Bharat Petroleum Corporation Limited (BPCL) has reported Consolidated financial results for the period ended March 31, 2024.

BPCL has posted net profit of Rs. 4,789.57 crores for the period ended March 31, 2024 as against net profit of Rs. 3,181.42 crores for the period ended December 31, 2023. The company posted net profit of Rs. 6,870.47 crores for the period ended March 31, 2023.

BPCL has reported total income of Rs. 132,593.54 crores during the period ended March 31, 2024 as compared to Rs. 130,475.59 crores during the period ended December 31, 2023. The company reported total income of Rs. 133,902.66 crores during the period ended March 31, 2023.

For the Financial Year ended March 31. 2024, BPCL has reported total income of Rs. 509,227.33 crores during the Financial Year ended March 31, 2024 as compared to Rs. 535,045.51 crores during the Financial Year ended March 31, 2023.

The company has posted net profit of Rs. 26,858.84 crores for the Financial Year ended March 31, 2024 as against net profit of Rs. 2,131.05 crores for the Financial Year ended March 31, 2023.

G. Krishnakumar, C&MD, BPCL said, “The Financial Year 2023-24 marks a significant milestone in our journey. We've achieved record-breaking operational and financial performance across refining throughput, domestic market sales, and profitability. Our (Standalone) Profit After Tax soared to a historic Rs. 26,673.50 crores. These achievements provide a strong foundation for BPCL's ambitious strategy ‘Project Aspire’, which, at a planned capital outlay of Rs. 1.7 lakh Crores over a period of 5 years, will fuel our next wave of growth to create long term value for our shareholders. India's booming economy is our tailwind. We're confident it will drive a surge in energy demand, further fueling growth in our core and new businesses. We are planning to expand our refining capacity to 45 MMTPA and add 4,000 new fuel stations by FY2029. We are investing in future big bets including the setting up of petchem facilities in Bina and Kochi, tripling our gas footprint by FY2029, and seizing economic opportunities in the Green Businesses.”

On the outlook for FY 2024-25, he added, “We remain cautiously optimistic and expect the crude oil prices to remain in the range of US$ 83-87/bbl in the near future. While geopolitical tensions and supply chain disruptions are potential hurdles, we're prepared to navigate these uncertainties with agility and efficiency.”

He further added, “We are pleased to inform that the Board of Directors has recommended issue of bonus shares in the ratio of one equity share for every one existing equity share. This is subject to approval by the shareholders of the company.”