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BPCL Q2 Results: Profit Falls 20%, Misses Estimates

BPCL’s second-quarter revenue stood at Rs 1,02,790.39 crore, down 9% from earlier estimates, while Ebitda dropped 20%.

<div class="paragraphs"><p>Bharat Petroleum Corporation Ltd. reported a consolidated net profit of Rs 2,397.23 crore in Q2 FY25, marking a 20% decline, with revenue and margins also below forecasted levels, according to exchange data. (File photo of Bharat Petroleum fuel station Photo source: BPCL website)</p></div>
Bharat Petroleum Corporation Ltd. reported a consolidated net profit of Rs 2,397.23 crore in Q2 FY25, marking a 20% decline, with revenue and margins also below forecasted levels, according to exchange data. (File photo of Bharat Petroleum fuel station Photo source: BPCL website)

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.