BPCL Q1 Profit More Than Doubles, Best in Nine Quarters 

Bharat Petroleum Corp. Ltd. posted a 103% year-on-year jump in net profit to ₹61.24 billion for  April–June, marking its best bottom-line performance in nine quarters, aided by lower material costs and higher sales. The result also reflected a sharp 91% sequential rise in profit after a weak March quarter.

Revenue rose just over 1% on year to ₹1.296 trillion, supported by stronger domestic and export sales, though net sales value — excluding excise duty — was broadly flat at ₹1.125 trillion.

BPCL's average gross refining margin dropped to $4.88 per barrel from $7.86 a year ago, with the Mumbai refinery averaging $4.14, Kochi $5.69, and Bina $4.50. Refinery throughput rose to 10.42 million tonnes from 10.11 million tonnes a year ago, led by higher output at the Kochi and Mumbai units.

Domestic market sales grew 3.19% on year to 13.58 million tonnes, while export sales rose sharply to 450,000 tonnes from 270,000 tonnes.

Total expenses, excluding excise duty, fell just over 4% on year to ₹1.051 trillion, driven mainly by a nearly 9% drop in the cost of materials consumed to ₹536.86 billion. However, stock-in-trade purchases edged up nearly 1% to ₹407.83 billion, and other expenses grew 1.5% to ₹61.45 billion. Depreciation and amortisation expenses rose nearly 12% to ₹18.82 billion.

BPCL reported a marketing inventory loss of ₹8.35 billion during the quarter, reversing a gain of ₹4.07 billion in the same period last year.