Its consolidated net profit at Rs 76.29 crore was down 37.75 per cent. It posted a net profit (PAT) of Rs 122.56 crore for the corresponding period of the previous fiscal.
Minimises impact of pandemic through cost control measures; says witnessing good response from customers post opening up outlets
Firm won orders worth Rs 1.86 trillion at the group level in FY20, up 9% over previous year even in the face of subdued business environment and economic challenges
As crude oil prices tanked globally, owing to a slowdown in industrial activity and demand, BPCL was forced to value finished goods inventory and raw materials at below cost.
It had posted Rs 230 crore PBT during the corresponding quarter last year on a consolidated basis.
Although unsure of revival in demand, Chief Financial Officer Aditya Pande said there was a slight uptick in forward bookings after the lockdown was relaxed.
The FMCG major said that after the initial hiccups, the firm coped up well and witnessed 20 per cent rise in revenues in April, and 28 per cent in May
On a sequential basis, however, the company fared better, both in terms of sales and profits. The stock ended day's trade at Rs 869.8, down 1.3 per cent.
The total income for the quarter rose 8.84 per cent to Rs 2880.82 crore from Rs 2646.96 crore in the year ago period.
Q4 was weak with 8.8% fall in top line and 45.5% decline in pre-tax profit
Net profit for the financial year ended March 31, 2020 (FY20), stood at Rs 337.25 crore, up marginally from Rs 325.37 crore in FY19.
Revenue for the period fell nearly 14 per cent to Rs 2,153 crore.
Excluding covid-19 related provisions, the profit after tax of the bank would have been Rs 3,260 crore
Fund house held sizeable market share in individual investors' segment
Had it not been for Covid-19 impact, the company would have reported a sharp 80 per cent year-on-year jump in its pre-tax profit to Rs 692 core.
At the net profit level, aided by lower interest costs, the company recorded a growth of 73 per cent on a sequential basis and nearly trebled over the year-ago period.
Net profit also declined 14% on account of loss in investment income and higher provisions.
It had reported a pre-tax profit of Rs 8,954.38 crore in the same period last financial year (Q4FY19).
Net profit after tax up 20% to Rs 724 cr, revenues rise 9% to Rs 3,806 cr, Gross NPAs up by 1.8%
Pre-tax profit growth second-lowest in seven quarters; net sales growth hits three-year low of 3.3%