Bharat Petroleum Corporation Ltd. announced a fall in its profit for the second quarter of fiscal 2025, missing analysts' estimates.
The oil marketing company reported a 20% fall in the consolidated profit at Rs 2,397.23 crore for the July-September quarter, compared to Rs 3,104.77 crore in the previous quarter, according to an exchange filing. The analysts polled by Bloomberg had estimated a Rs 4,118-crore net profit.
The average gross refining margin of the company in the April to Sept. 2024 period stood at $ 6.12 per barrel, marking a 60% drop from the same period a year ago.
BPCL Q2 FY25 Highlights (Standalone, QoQ)
Revenue down 9% to Rs 1,02,790.39 crore (Bloomberg estimate: Rs 1,08,975 crore).
Ebitda down 20% to Rs 4,546.41 crore (Bloomberg estimate: Rs 6,048 crore).
Margin at 4.4% versus 5% (Bloomberg estimate: 5.5%).
Net profit down 20% to Rs 2,397.23 crore (Bloomberg estimate: Rs 4,118 crore)
Key Performance Highlights
Lower revenues were driven by low petroleum product demand during the quarter due to an erratic monsoon season.
The company's refinery throughput saw a 1.68% sequential uptick to 10.28 million metric tonnes.
Market sales fell 5.8% over the same period, reflecting low demand, while export sales jumped over 2 times sequentially.
As of Sept. 2024, the company's LPG losses stood at Rs 4,119.72 crore vs Rs 2,000 crore in Q1.
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