Bharat Petroleum (BPCL) Q4 86/87 earnings summary

Executive summary

• FY1986-87 sales turnover rose to Rs249,967.81 lakh from Rs233,777.93 lakh; profit after tax eased to Rs6,032.32 lakh from Rs6,131.85 lakh.

• Refinery output was affected by a scheduled 35-day crude-unit shutdown, while distillate yield reached a refinery record of 80.8%.

• Marketing sales volume increased 4.7% to 7.93 million tonnes; market participation was 18.3%.

Financial highlights

• Sales turnover was Rs249,967.81 lakh, up from Rs233,777.93 lakh; sales and other income totaled Rs251,541 lakh versus Rs235,147 lakh.

• Profit before tax was Rs6,852.32 lakh versus Rs6,891.85 lakh; profit after tax was Rs6,032.32 lakh versus Rs6,131.85 lakh.

• PBT included Rs4,555.94 lakh of net prior-year income; profit before this item was Rs2,296.38 lakh.

• Duties and income tax contributed Rs493.68 crore to the Exchequer, compared with Rs461.71 crore in FY1985-86.

Outlook and guidance

• The Rs43.61 crore captive power project was scheduled for mechanical completion in 1988; it aims to protect refinery operations from external power disruptions and co-generate steam.

• The Rs21.90 crore C3/C4 separation project was scheduled for completion by end-1988; the Rs7.76 crore effluent-treatment project was scheduled for June 1989.

• Phase I of the Rs25.89 crore product-tankage project was completed by March 1987; Phase IIA, estimated at Rs10.41 crore, planned additional tankage.

• Twelve LPG bottling plants were planned to support 226,800 tonnes of additional LPG marketing and enrollment of 15.5 lakh new customers.

• Proposed projects subject to Government approval included para-/ortho-xylene, n-paraffins, a Bombay–Manmad pipeline and a Cochin terminal.