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Informist, Tuesday, Apr. 29, 2025

 

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--BPCL Jan-Mar net profit INR 32.14 bln vs INR 42.24 bln year ago 
--Analysts saw BPCL Jan-Mar net profit INR 26.60 bln 
--BPCL Jan-Mar revenue INR 1.269 tln vs INR 1.321 tln year ago
--BPCL to pay INR 5 per share final dividend 
--BPCL FY25 net profit INR 132.75 bln vs INR 266.74 bln year ago 
--BPCL FY25 revenue INR 5.004 tln vs INR 5.068 tln year ago 
--BPCL: One-time cost of INR 17.74 bln in Jan-Mar 
--BPCL Jan-Mar market sales 13.42 mln tn vs 13.18 mln tn year ago 
--BPCL Jan-Mar refinery throughput 10.58 mln tn vs 10.36 mln tn year ago 
--BPCL FY25 average GRM $6.82/bbl vs $14.14/bbl year ago 

 

By Ashutosh Pati

 

MUMBAI – State-owned Bharat Petroleum Corp. Ltd.'s net profit for the March quarter slumped nearly 24% on year to INR 32.14 billion, but its performance was still better than what analysts had expected. Analysts had thought the company would report a 37?ll in net profit.

 

The drop in net profit was on account of a 52?cline in the company's average gross refining margin to $6.82 per barrel. With this, the company's net profit has declined on year in three of the four quarters in the previous financial year. Its net profit was hit by a one-time expense of INR 17.74 billion due to impairment loss on investment in its subsidiary Bharat PetroResources Ltd. It had reported a similar expense of nearly INR 18 billion in the fourth quarter of the financial year 2023-24 (Apr-Mar) owing to impairment loss in the same subsidiary.

 

BPCL's revenue for the March quarter was INR 1.27 trillion, down nearly 4% on year. The company's revenue, excluding excise duty, was INR 1.11 trillion, down nearly 5% on year, but in line with the Street's expectations.

 

The company's revenue declined despite an increase in refinery throughput and sales during the March quarter. BPCL's crude oil refinery throughput in the reporting quarter rose to 10.58 million tonnes from 10.36 million tonnes a year ago. Its market sales during the quarter rose to 13.42 million tonnes from 13.18 million tonnes a year ago.

 

The total expenses of the company, excluding excise duty, fell 3.3% on year to INR 1.1 trillion during the quarter. Finance costs fell over 4% to INR 5.47 billion. However, the cost of materials consumed rose nearly 3% on year to INR 580.45 billion, while the cost of purchasing stock-in-trade fell 6% to INR 389.41 billion.

 

For FY25, the company reported a net profit of INR 132.75 billion, less than half its net profit for the preceding year. Its revenue from operations for the year fell over 1% to INR 5.00 trillion.

 

The company announced that it would pay INR 5 per share as final dividend to its shareholders. On Tuesday, shares of BPCL closed 0.6% higher at INR 311.70 on the National Stock Exchange. The company released its results after the market closed.  End

 

Edited by Rajeev Pai

 

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