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

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

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.     

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.     

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code