BPCL swings to ₹4,993cr profit in Q2 FY27
What's the story
Bharat Petroleum Corporation Limited (BPCL), a state-owned oil and gas company, has reported a standalone net profit of ₹4,993.17 crore for the September quarter of FY27. The company's earnings have rebounded from the previous quarter's loss of ₹3,962.13 crore. The latest figures also beat a CNBC-TV18 poll estimate of ₹4,703 crore by a wide margin.
Financial performance
Revenue net of excise duty at ₹1.49L crore
BPCL's revenue net of excise duty stood at ₹1.49 lakh crore, just shy of the CNBC-TV18 poll estimate of ₹1.5 lakh crore.
The company's earnings before interest, tax, depreciation and amortization (EBITDA) also exceeded expectations at ₹8,971 crore against a poll estimate of ₹6,016 crore.
This strong financial performance highlights BPCL's resilience in the face of market challenges.
Operational growth
Standalone revenue from operations increased 30% YoY
BPCL's standalone revenue from operations increased by a whopping 29.8% year-on-year to ₹1,57,778.58 crore in the September quarter.
This is an increase from ₹1,21,570.90 crore in the same period last year.
However, net profit for the company declined by 22.5% from ₹6,442.53 crore last year to ₹4,993.17 crore this time around, due to suppressed marketing margins on certain petroleum products.
Higher refining margins partly offset the impact.
Production boost
Key operational numbers for BPCL
BPCL's refinery throughput increased to 10.41 million metric tons (MMT) from 9.82 MMT in the same quarter last year. Domestic market sales also rose to 13.47 MMT from 12.67 MMT, while export sales increased to 0.59 MMT from 0.36 MMT during this period under review.