Mumbai, May 26 (IANS): Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Wednesday reported a net profit of Rs 11,940.13 crore for the quarter ended March 31, 2021, as against net loss of Rs 1,361.01 crore in the corresponding quarter last year.

The total income of the company during Q4 FY21 saw a robust jump to Rs 1,00,419.63 crore from Rs 82,452.99 crore seen in the same quarter of previous year.

The turnaround witnessed by the company in its profitability is largely on account of inventory gains, and also on account of a V-shape recovery seen by the company in the second half of financial year resulting in robust growth in fuel sales.

"As number of Covid-19 cases went down in Jan-Mar 2021 quarter, we witnessed good growth in fuel sales and other petrochemical products following recovery in the economy. In an unprecedented year that began with a lockdown across country and subdued business & economic activities, the fourth quarter was a stand-out quarter that helped the company to report its highest ever growth in top-line and bottom-line," BPCL's Director (Finance)N. Vijayagopal said.

The Board of Directors of the company have recommended a final dividend of Rs 58 per equity share (including a one-time special dividend of Rs 35 per equity share of Rs 10 each) for the financial year ended March 31, 2021, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM).

The final dividend would be paid within 30 days from the date of its declaration at the AGM. It is in addition to the interim dividend of Rs 21 per equity share paid for the year by the company.

For the full year (FY21), the company posted its highest-ever profit of Rs 19,041.67 crore as compared to Rs 2,683.19 crore in the previous year.

BPCL's gross refining margins (GRMs) for the year stood at $4.06 per barrel and for Jan-Mar 2021 period at $6.64 per barrel. Its EBITDA was at Rs 27,923.99 crore; EBITDA margin was at 9 per cent in FY21 and 14 per cent in Q4FY21. The debt-equity ratio as on March 31, 2021 was at 0.48x (as against 1.26x in FY20).

Total market sales of BPCL were 38.74 MMT in FY 21. The company also added 2,444 new fuel stations, taking their network strength to 18,637, the 2nd second highest retailing network in India.