New Delhi - Bharat Petroleum Corporation Limited (BPCL) on Friday reported a net profit of Rs 551.16 crore for the December quarter on the back of full compensation for losses on fuel sales.
The company had reported a net loss of Rs 1,088.94 crore in the corresponding period of previous fiscal, BPCL said in a regulatory filing.
The government paid Rs 1,079.92 crore in cash subsidy while upstream oil producers like ONGC extended an assistance of Rs 2,332.88 crore to make up for all the losses that the firm had incurred on selling domestic LPG and PDS kerosene at rates lower than cost.
BPCL earned USD 1.54 on turning every barrel of crude oil into fuel in the quarter as compared to a gross refining margin of USD 1.76 per barrel in third quarter of previous fiscal.
New Delhi: Price of branded or premium petrol was on Thursday cut by over Rs 5 per litre after Finance Minister Arun Jaitley slashed excise duty on the fuel.
Central Excise duty on Branded Petrol was cut from Rs 7.50 per litre to Rs 2.35 per litre.
Branded petrol, which contains special performance enhancing additives, attracted higher duties than normal petrol.
The differential excise duty led to huge difference in price of normal and branded fuel, resulting in sales of the premium version dropping to almost nil.
The removal of excise duty would bring the two fuel at par.
The sales of commercial cylinders is on the decline for the past several months, and the decline might have been the result of black marketing of non-subsidized cylinders, government-run oil marketing companies (OMCs) believe.
While the growth of commercial cylinders so far this year ranged between 3 per cent and 5 per cent, it had been between 20 per cent and 25 per cent last year following the announcement of capping of six on subsidized cylinders.
State-run, Oil Marketing Companies in India are expected to increase the price of petrol in the country by about Rs. 1 from June 1due to the depreciation of the rupee during the previous one month.
Petrol prices have been falling in the country since March due to a downward trend in the global crude oil prices. This time the rise might be based on the weakening of the rupee even as the crude oil prices have large remained stable because it made imports costlier for oil importers. The increase will be first rise in the price of petrol in the country in three months.
Indian Stock Market followed global stock market trend and continued the upside movement. BSE Sensex was up by 50 points at 19763 and NSE Nifty was above 6000 with a gain of 15 points. US markets closed positive on January 2 with Dow Jones gaining 2.3%, Nasdaq up by 3% and S&P higher by 2.4 per cent.
Among major gainers in today's early trading session were Dr Reddys Labs, Cairn India, Ambuja Cements, BPCL, IDFC, Tata Steel, ACC and Bharti Airtel. Among major losers in today's session were Tata Power, Lupin, PNB and Maruti Suzuki.
Indian Stock Markets witnessed decent gains on Wednesday as the market rally continued from previous day. NSE Nifty scaled 6000 points level after long time and touched 52-week high of 6006 in intraday trade. At closing bell, NSE Nifty was up by 42 points at 5994 and BSE Sensex was inching towards 20k mark with gain of 125 points.
Indian markets entered year 2013 on positive note as investor sentiment was strong after US fiscal cliff was averted and stock markets across the globe jumped.
Petrol, diesel and domestic cooking gas LPG is likely to become costlier soon after the monsoon session of Parliament concludes, a senior official from the Petroleum Ministry revealed.
Speaking on the condition of anonymity, the official said that the oil marketing companies are losing huge amounts on subsidised sales of their products, and that the government is waiting for Parliament to adjourn to give the companies green signal to increase the prices of their products.
Technical analyst Ashwani Gujral has maintained 'hold' rating on Bharat Petroleum Corporation Limited (BPCL) stock with a target of Rs 700.
According to analyst, the investors can hold the stock with a stop loss of Rs 630.
The stock of the company, on May 04, closed at Rs 654.30 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 814.90 and a low of Rs 512 on BSE.
Current EPS & P/E ratio stood at 36.36 and 17.80 respectively.
Technical analyst Somil Mehta of Sharekhan maintained 'buy' rating on Bharat Petroleum Corporation Limited stock with a short term target of Rs 670.
According to analyst, the stock can be purchased with a stop loss of Rs 605.
Mr. Mehta said that the stock can attain the said target within 1-2 weeks.
Today, the stock of the company opened at Rs 141.50 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 144.20 and a low of Rs 76.50 on BSE.
Current EPS & P/E ratio stood at 9.27 and 15.42 respectively.
Stock market analyst Anil Singhvi has maintained 'buy' rating on Bharat Petroleum Corporation Limited (BPCL) stock with an intra day target of Rs 800.
According to analyst, the stock can be purchased with a stop loss of Rs 744.
Mr. Singhvi also said that there are full chances of an upsurge as the energy giant has recorded gained in its quarterly earnings.
The stock of the company, on Nov 10, closed at Rs 755.80 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 814.90 and a low of Rs 495.10 on BSE.
Stock market analyst Sanjay Surekha is of the view that investors can buy Bharat Petroleum Corporation Limited (BPCL) to achieve a target that lies between Rs 650 and 700.
According to analyst, the investors can buy the stock with strict stop loss of Rs 575.
The shares of the company, on June 25, closed at Rs 621.35 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 658 and a low of Rs 410 on BSE.
Current EPS & P/E ratio stood at 42.53 and 15.16 respectively.
Stock market analyst Nikita Surekha has maintained 'hold' rating on Bharat Petroleum Corporation Ltd (BPCL) stock.
According to analyst, the investors can exit on rally to around Rs 599-600.
Today, the stock of the company opened at Rs 583 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 658 and a low of Rs 410on BSE. Current EPS and P/E ratio of the stock stood at 42.53 & 13.56 respectively.
BPCL is quite a good stock because of the reason crude oil surges with equities and the stock falls with crude oil going up.
Technical Analyst Salil Sharma has maintained 'buy' rating on BPCL stock to achieve a target of Rs 555 in 1-2 trading sessions.
According to Mr. Sharma, interested traders can purchase the stock with a stop loss of Rs 535.
The shares of the company, on May 10, closed at Rs 540.30 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 658 and a low of Rs 356 on BSE.
Current EPS & P/E ratio stood at 123.43 and 4.36 respectively.
According to the sources, Bharat Petroleum Corp (BPCL) has set a cut-off bid of 8.30% at its oil bond sale.
Bharat Petroleum Corporation Limited (BPCL) is going to get Rs. 2,800 from the government which will be given to it in form of subsidy.
If calculated the figures makes up for 21 per cent of the total subsidy given by the government to the oil companies. The total corpus set up for this purpose is worth Rs. 14,000 crore, said SK Joshi, Director-Finance at BPCL while talking to a private news channel CNBC TV 18.
The total money, he said, will be given to BPCL in next three to four months time.
Bharat Petroleum Corporation (BPCL) has declared the result for the three month period ended December 2009.
During the third quarter, the company's net profit fell 52.60% to Rs 379 crore as against Rs 799.8 crore during the corresponding period of last year (2008).
The net sales of the company came up to Rs 32,161 crore as against Rs 31,884.5 crore.
The company witnessed a marginal increase of 1.44% in its total income, which stood at Rs 326,484.90 million for the three month period ended December 2009 as against Rs 321,846.30 million for the same quarter of 2008.
Bharat Petroleum Corp Ltd, India–based second biggest state refiner, has registered disappointing results for the second quarter of the current financial year.
During the reporting quarter, the company has posted a net loss of Rs 158.77 crore.
In the July-September three month period, company’s losses dropped to Rs 158.77 crore from Rs 2,625.27 crore a year ago.
BPCL's turnover also witnessed a downward trend to Rs 27,513.4 crore from Rs 38,148.73 crore.
Cals Refineries, a leading public limited company has announced that it has inked a memorandum of understanding (MoU) with Bharat Petroleum Corporation (BPCL).
Under the MoU, BPCL will off-take petroleum products from CALS.
According to sources, BPCL, in its first phase, will off-take the part of petroleum products from CALS, which is a 100,000 Barrels Per Stream Day (BPSD) crude oil refinery and in the second phase, it will off-take the entire petro products from CALS which is another 100,000 BPSD refinery at Haldia, West Bengal.