Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) in May 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 the financial year resulting in robust growth in fuel sales. “As the 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 the 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.

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. 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.