The company has an unsold inventory of about Rs 15,000 crore, which include finished stocks and unsold units in the projects launched but under-development.
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The company had reported a profit of Rs 457.62 crore in the corresponding period past year.
BPCL had a gross refining margin (GRM) of $8.55 per barrel in the April-June quarter of the fiscal, as against $3.38 it earned on refining every barrel of crude oil in the same quarter of previous year. Earnings per share for Q1 stood at Rs 29.7 compared with Rs 18.7 for the quarter ended on June 30, 2014.
“We have achieved the profit of Rs 400.91 crore despite the losses incurred on the Mumbai metro and cement businesses which is around Rs 50 crore and Rs 39 crore, respectively, during the quarter, which is common in the first year of operations of any new business”, Chief Executive Officer M S Mehta told reporters here.
Hindalco said depreciation and finance costs were higher, given the additional capitalisation at both the greenfield smelter complexes. However, PBITDA has been maintained at Q4 FY15 level. “We will deliver 20 million sq ft in next 12-18 months”, Tyagi said. Rs3,011 crore in Q1 FY15 supported by higher volumes.
Its other Income fell to Rs 330 crore against Rs 1020 crore (Y-o-Y) while tax expenses were at Rs 1120 crore against Rs 575.1 crore (YoY).
Reliance Capital Asset Management (RCAM) managed Rs 2,43,162 crore at the end of first quarter, across mutual funds, pension funds, managed accounts and offshore funds.
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The company said going forward, while its operational performance is expected to be robust due to ramp-up of new facilities, adverse metal realisation may pose a significant turbulence.
