BPCL Q3 PAT rises 20% to ₹3,806 crore

Bharat Petroleum Corporation Ltd. (BPCL) reported a 20% growth in consolidated net profit at ₹3,806 crore for the third quarter ended December 31, 2024, compared with ₹3,181 crore in the year-earlier period. 

Revenue from operations during the quarter, however, decreased to ₹1,27,551 crore from ₹1,29,985 crore in the year earlier.

The board declared an interim dividend of ₹5 per equity share of a face value ₹10 each (i.e.50% for the financial year 2024-25). The board fixed January 29, 2025 as record date to determine the eligibility of the shareholders to receive the interim dividend. 

The board also approved formation of a 50:50 Joint Venture company with Praj Industries Ltd. for setting up compressed bio gas (CBG) plants across India, subject to regulatory approvals from DIPAM, board approval of Praj. 

It also approved the submission of a development plan to the Indonesian regulator for development of Nunukan block for oil and gas reserves. Once the development plan is approved by the regulator and various terms and conditions are met, an estimated investment of $121 million will be incurred, the company said in a filing. 

Bharat PetroResources Ltd. (BPRL), a 100% subsidiary of BPCL, through its stepdown wholly owned subsidiary BPRL Ventures Indonesia BV (BVIBV), holds Participating Interest of 16.23% in the block, and Pertamina Hulu Energi Nunukan Inc. (PHENC), a subsidiary of Pertamina, the National Oil Company of Indonesia, is the operator of the block, the company added.