BPCL Q4 profit drops 8% to ₹4,391 crore; LPG losses cross ₹10,400 crore in FY25
Bharat Petroleum Corporation Ltd (BPCL) posted a standalone net profit of ₹4,391 crore for the January–March quarter (Q4 FY25), marking an 8% decline compared to the same period last year. The company attributed the hit to substantial losses from selling domestic liquefied petroleum gas (LPG) below cost.
According to its stock exchange filing, BPCL incurred a loss of ₹3,217.82 crore during the fourth quarter alone from under-recoveries on domestic LPG.
For the full financial year, the total loss on this account stood at ₹10,446.38 crore.
BPCL reported an average Gross Refining Margin (GRM) of $6.82 per barrel for FY25, a significant decline from $14.14 per barrel in FY24.
These numbers are calculated before accounting for the Special Additional Excise Duty and Road & Infrastructure Cess, which have been in effect since July 1, 2022.
Revenue from operations for the quarter stood at ₹1,26,916 crore, down 3.92% year-on-year. Total expenses declined by 2.82% to ₹1,22,080.31 crore during the same period.
BPCL explained that it did not recognise the ₹10,446.38 crore loss on LPG sales as revenue, citing a directive from the Ministry of Petroleum & Natural Gas (MoPNG) issued on April 30, 2020.
The company stated: “As per a directive from the Ministry of Petroleum & Natural Gas (MoPNG) dated April 30, 2020, oil marketing companies (OMCs) must set aside the difference in a separate buffer account when the market price of LPG is lower than its actual cost to customers.
"As of March 31, 2025, BPCL had a cumulative negative balance of ₹10,446.38 crore in this buffer, so it did not recognize that amount as revenue from LPG sales.”
In Q4 FY25, BPCL reported a refinery throughput of 10.58 million metric tonnes (MMT), representing the volume of crude oil processed. Domestic market sales during the quarter stood at 13.42 MMT, reflecting a 1.82% increase year-on-year. Export sales were modest at 0.30 MMT.
The Board of Directors, in a meeting held on April 29, 2025, proposed a final dividend of ₹5 per equity share with a face value of ₹10 each. This is in addition to the interim dividend of ₹5 per share already disbursed earlier in the financial year.
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