Bharat Petroleum Corporation Ltd (BPCL) on Wednesday reported more than doubling of its first quarter net profit, as advertising margins surged due to holding retail costs regardless of a drop in enter oil price.
Its consolidated net profit of ₹6,839.02 crore in April-June — the primary quarter of the 2025-26 fiscal yr — in comparison with ₹2,841.55 crore earnings in the identical interval of the final yr, in response to a inventory alternate submitting by the corporate.
The first quarter profit is a document for BPCL and is more than half of the total 2024-25 (April 2024 to March 2025) fiscal yr earnings. It had reported a net profit of ₹13,336.55 crore in FY25.
The profit surge was regardless of stock losses arising from promoting merchandise at charges decrease than the worth at which enter crude oil was purchased at, decrease refining margins and unpaid LPG subsidy.
The incomes enhance got here from holding retail petrol and diesel costs regardless of a fall of their benchmark worldwide charges. This led to a margin enhance.
BPCL’s pre-tax profit from the downstream petroleum enterprise (principally fuel retailing) surged to ₹80.60.47 crore in April-June from ₹3,858.90 crore final yr.
It earned $4.88 on each barrel of crude oil it processed and changed into fuels like petrol and diesel in Q1, in comparison with $7.86 per barrel gross refining margin final yr.
The firm additionally had an unpaid LPG subsidy of ₹2076.2 crore within the quarter.
BPCL and different state-owned fuel retailers like Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Ltd (HPCL) promote cooking fuel LPG at beneath market value and get reimbursed for the distinction as a subsidy from the federal government.
The subsidy for Q1 has not been paid despite the fact that the federal government has introduced ₹30,000 crore dole for the three corporations to cowl under-recoveries on LPG final fiscal and within the present monetary yr.
BPCL turnover was virtually unchanged at ₹1.29 lakh crore when in comparison with ₹1.28 lakh crore in April-June 2024.
The firm processed 10.42 million tonnes of crude oil in Q1 in opposition to 10.11 million tonnes of refinery throughput in the identical interval final yr. It bought 13.58 million tonnes of petroleum merchandise in April-June, up from 13.16 million tonnes in Q1 of the final monetary yr.
