Earnings Review
BPCL Q2 PAT jumps about 3 times YoY; surpasses Street view
This story was originally published at 17:54 IST on 31 October 2025
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--BPCL Jul-Sept net profit INR 64.43 bln
--Analysts saw BPCL Jul-Sept net profit at INR 44.59 bln
--BPCL to pay INR 7.5 per share interim dividend
--BPCL Jul-Sept revenue INR 1.22 tln
--Analysts saw BPCL Jul-Sept revenue at INR 1.09 tln
--BPCL interim dividend record date is Nov 7
--BPCL Jul-Sept net profit INR 64.43 bln vs INR 23.97 bln year ago
--BPCL Jul-Sept revenue INR 1.22 tln vs INR 1.18 tln year ago
--BPCL Apr-Sept average GRM $7.77/bbl vs $6.12/bbl year ago
--BPCL Jul-Sept refinery throughput 9.82 mln tn vs 10.28 mln tn year ago
--BPCL Jul-Sept domestic market sales 12.67 mln tn vs 12.39 mln tn year ago
--BPCL Apr-Sept net profit INR 125.66 bln vs INR 54.12 bln year ago
--BPCL Apr-Sept revenue INR 2.51 tln vs INR 2.46 tln year ago
By Arundathi A R
MUMBAI – State-owned Bharat Petroleum Corp. Ltd. Friday posted a near three-fold on-year jump in its bottom line for the September quarter due to higher gross refining margins. The company's revenue from operations increased year on year in Jul-Sept, after declining in the previous four quarters. The Maharatna company surpassed consensus estimates on both the top line and bottom line for the September quarter.
The oil marketing company reported a net profit of INR 64.43 billion for the September quarter, up 169% on year and over 5% sequentially. Analysts had expected the company to report a bottom line of INR 44.59 billion for the quarter.
The company's revenue increased by over 3% on year but fell over 6% sequentially to INR 1.22 trillion in the September quarter. This was higher than the INR 1.09 trillion analysts had expected. The company's top line for the reporting quarter, net of excise duty, grew a little over 2% on year but fell nearly 7% sequentially to INR 1.05 trillion.
The company's average gross refining margins during the quarter rose to $7.77 per barrel from $6.12 per barrel a year ago, the company said. BPCL's refinery throughput increased to 9.82 million tonnes in Jul-Sept from 10.28 million tonnes a year ago. BPCL's domestic market sales totalled 12.67 million tonnes in the September quarter, up 2.3% on year.
The oil major's total expenses, excluding excise duty, declined almost 3% on year to INR 975.08 billion in Jul-Sept. This was led by a near 10% on-year decline in the cost of materials consumed in the three-month period to INR 519.90 billion. Meanwhile, expenses tied to the purchase of stock-in-trade rose almost 4% on year to INR 382.33 billion, and other expenses grew over 16% on year to INR 71.41 billion. Depreciation and amortisation expense in the September quarter rose over 10% on year to INR 19.52 billion.
For the half-year ended September, the company reported a net profit of INR 125.66 billion, up 132% on year. The company's revenue for the period rose just over 2% on year to INR 2.51 trillion.
The company announced an interim dividend of INR 7.5 per share, with a record date of Nov. 7.
Friday, the company's shares ended at INR 356.80 on the National Stock Exchange, down 0.2%. The company announced its September quarter results after market hours. End
US$1 = INR 88.77
Edited by Saji George Titus
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