Bharat Petroleum (BPCL) Q4 85/86 earnings summary

Executive summary

• FY1985-86 profit after tax was ₹6,131.85 lakh, versus ₹1,380.31 lakh in FY1984-85; refinery crude throughput reached a record 6.38 million tonnes.

• Sales volume rose 7.4% to 7.57 million tonnes, and market participation increased to 18.7% from 18.4%.

Financial highlights

• Sales turnover was ₹233,777.93 lakh, up from ₹212,765.01 lakh; sales and other income totaled ₹235,147 lakh versus ₹213,936 lakh.

• Profit before tax was ₹6,891.85 lakh versus ₹2,080.31 lakh; this included ₹2,333.72 lakh of prior-years’ net income, compared with ₹675.85 lakh in FY1984-85.

• Profit after tax was ₹6,131.85 lakh versus ₹1,380.31 lakh; gross profit before depreciation, interest and tax was ₹17,722 lakh versus ₹9,299 lakh.

• Exchequer contribution from duties and income tax rose to ₹461.71 crore from ₹424.26 crore.

Outlook and guidance

• LPG Phase III plans 12 bottling plants with 277,500 tonnes annual capacity, targeting 226,800 tonnes of additional LPG sales and 15.5 lakh new domestic customers; completion was scheduled in stages through March 1988.

• A ₹43.61 crore captive power plant was scheduled for June 1988; a ₹28.5 crore C3/C4 separation project was scheduled for December 1988.

• Proposed projects awaiting Government approval included aromatics expansion, N-paraffins extraction, a 230 km Bombay-Manmad products pipeline and a Cochin terminal.