• Source:PTI
Add as a preferred

BHCL Q4 Result:  Bharat Petroleum Corporation Ltd (BPCL) announced on Thursday a 30% drop in its net profit in the March quarter due to lower refining margins and declared a bonus share for each held share. According to the company's stock exchange filing, consolidated net profit for the January-March period was Rs 4,789.57 crore, the fourth quarter of the 2023-24 fiscal year, compared to Rs 6,870.47 crore in the same period last fiscal year.

The BPCL board also approved a 1:1 bonus issue, i.e. 1 additional share for every share held. In comparison to Rs 1.34 lakh crore, turnover remained almost stagnant at Rs 1.32 lakh crore in January-March 2023. During the entire 2023-24 fiscal year, BPCL posted a record net profit of Rs 26,858.84 crore, up from Rs 2,131.05 crore in the prior year.

Meanwhile, the State Bank of India also announced its quarter 4 report today.

Also Read: BPCL Q4 Results: Net Profit Drops 30% To Rs 4,789.57 crore; Details

State Bank of India Q4 Results

SBI reported an 18.18 percent rise in its consolidated net profit to Rs 21,384.15 crore in the March quarter of fiscal year 2023-24 (FY24) from Rs 18,093.84 crore in the corresponding period last year. In a regulatory filing, the lender said its standalone profit rose to Rs 20,698.35 crore from Rs 16,694.51 crore a year ago. In FY23-24, consolidated net profit increased by 20.55 percent to Rs 67,084.67 crore from Rs 55,648.17 crore in FY23.

In Q4 FY24, total income rose to Rs 1.28 lakh crore from Rs 1.06 lakh crore as compared to last year figure, while operating expenses rose at a comparatively slower pace to Rs 30,276 crore from Rs 29,732 crore in the year-ago period.

Total provisions nearly halved to Rs 1,609 crore from Rs 3,315 crore in the year-ago period. The gross non-performing assets (GNPA) ratio improved to 2.24 percent as of March 31, 2024, from 2.78 percent in the year-ago period and 2.42 percent at the end of the December quarter.

Shares of the bank were trading 1.81 percent higher at Rs 825.10 on the BSE, compared with a 1.15 percent rise in the benchmark index.

Also Read: Mutual Fund: Equity MFs Inflow Drops 16% In April; SIP Contributions Cross Rs 20,000 Crore Mark