State-owned Bharat Petroleum Corp Ltd (BPCL) today reported a 33 per cent jump in its net profit in the quarter ended March 31 on back of higher refining margins.
Net profit rose to Rs. 935.18 crore in fourth quarter of 2010-11 fiscal from Rs. 703.18 crore in the same period the previous year, BPCL said in a statement here.
Total Income has increased from Rs. 40,071.55 crore for the quarter ended March 31, 2010 to Rs. 48,311.46 crore for the quarter ended March 31, 2011.
The board of directors of the company at its meeting held today recommended dividend of Rs. 14 a share of Rs. 10 each for the year 2010-11.
During 2010-11 fiscal, BPCL’s Profit inched to Rs. 1,546.88 crore from Rs. 1537.62 crore in the previous year.
BPCL said it has got Rs. 9418.88 crore from the government as cash subsidy for selling diesel, domestic LPG and kerosene below cost in 2010-11 fiscal. Also, it got Rs. 6,969.04 crore in assistance from upstream firms ONGC/GAIL.