BPCL Q1: net profit falls 73% to Rs 28 Bn

22 Jul 2024 CW Team

State-owned oil marketing company (OMC) BPCL reported a consolidated net profit of Rs 28 billion for the April-June quarter (Q1) of FY25, reflecting a 73.2% decrease compared to Rs 106 billion in the corresponding quarter of FY24. Sequentially, BPCL's net profit fell by 40.6% from Rs 478 billion in the preceding quarter.

Revenue from operations in Q1FY25 marginally decreased by 0.1% to Rs 1.28 trillion, while total expenses rose by 8.5% to Rs 1.25 trillion. The reduction in net profit for Q1 was attributed to lower gross marketing margins on petrol and diesel, which decreased to an average of Rs 6.8 per barrel (/bbl) from Rs 9.3/bbl in the preceding quarter, according to a note by Elara Securities.

BPCL's average gross refining margin (GRM) for Q1FY25 was $7.86 per barrel, down from $12.64 in Q1FY24. GRM represents the earnings refiners make from turning each barrel of crude oil into refined fuel products. Market sales for the state refiner during the quarter were 13.16 million metric tonnes (MMT), compared to 12.75 MMT in the corresponding period of FY24, indicating a growth of 3.22%.

BPCL announced that it achieved its highest-ever average ethanol blending percentage of 14.14% during the quarter. The company added 171 new fuel stations in Q1FY25, bringing their network to 22,011 stations. Additionally, BPCL expanded its LPG distributor network by adding five new distributors, reaching a total of 6,255, and increased its customer base to 9.33 crore.

Despite the dip in profits for the latest quarter, BPCL's consolidated annual net profit surged by 1,160% to a record high of Rs 268 billion in FY24, up from Rs 213 billion in FY23. This substantial increase is widely attributed to continuous discounts on an increasing volume of Russian crude supplies.

Building Material

11 Dec 2025

Suraj Estate Wins Euromoney Award for India’s Best Residential Developer

"Suraj Estate Developers Limited has received the Euromoney Real Estate Award 2025 for ‘India’s Best Residential Developer’, positioning the company among globally benchmarked leaders in the sector. The recognition reflects its four-decade legacy in delivering high-quality residential and redevelopment-led projects across South Central Mumbai. The Euromoney Real Estate Awards, presented by the London-based Euromoney magazine, are widely regarded as one of the most credible global assessments of performance in real estate, banking and finance. Winners are selected through surveys of inte..

Lloyds Metals, Tata Steel Sign MoU to Explore Strategic Collaboration

"Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding with Tata Steel Limited to evaluate potential areas of strategic cooperation across mining, logistics, pelletisation and steelmaking. The MoU was signed by B Prabhakaran, Managing Director of Lloyds Metals, and Mr T V Narendran, CEO and Managing Director of Tata Steel. The partnership framework aims to leverage the natural operational synergies between both companies and assess opportunities in greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet manufacturing in iron ore–ric..

IndiaAI, Gujarat Govt Host Regional Conclave Ahead of 2026 AI Summit

The IndiaAI Mission under the Ministry of Electronics and Information Technology, along with the Government of Gujarat and IIT Gandhinagar, convened a Regional Pre-Summit Event at Mahatma Mandir, Gandhinagar. The initiative is part of the build-up to the India–AI Impact Summit 2026, scheduled for 15–20 February 2026 at Bharat Mandapam, New Delhi. The conclave brought together senior policymakers, technology leaders, researchers and industry practitioners to examine how AI can accelerate economic, digital and social transformation across sectors. The programme focused on the overarching th..