Mumbai: Bharat Petroleum Corporation Limited (BPCL) reported a standalone net profit of Rs 3,015 crore for the first quarter of the financial year 2024-25, a 71 percent decrease from the Rs 10,551 crore net profit in the same period last year.
This decline was attributed to weak gross refining margins (GRMs) and higher crude oil prices due to geopolitical tensions.
Sequentially, net profit dropped around 29 percent from the Rs 4,224 crore reported in the fourth quarter of FY24.
Revenue from operations for the state-run oil marketing company was nearly flat at Rs 1.28 lakh crore in Q1FY25.
Consolidated revenue was projected at Rs 1.2 lakh crore, reflecting a 6.6 percent increase quarter-on-quarter and a 3.3 percent increase year-on-year.
EBITDA was expected to be Rs 7,551 crore, down 52 percent quarter-on-quarter and 18 percent year-on-year.
EBITDA fell 62 percent year-on-year to Rs 6,155 crore. BPCL’s average GRM for Q1 was $7.86 per barrel, compared to $12.64 per barrel last year.
The throughput was 10.11 million metric tonnes (MMT), slightly down from 10.36 MMT last year.
On the marketing front, BPCL achieved a quarterly sales volume of 13.16 MMT during the June quarter, up from 12.75 MMT last year.
This increase was mainly driven by petrol sales, which grew by 6.38 percent, while sales of LPG and aviation turbine fuel (ATF) increased by 4.45 percent and 14.53 percent, respectively.
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