 "BPCL Q3 results: Net profit rises 19.6% to Rs 3,806 cr, revenue down 1.9%")
State-run Bharat Petroleum Corporation (BPCL) reported a 19.6 per cent rise in net profit (attributable to the owners of the company) for the third quarter of the financial year 2025 (Q3FY25), on the back of improved performance.
For the quarter under review, BPCL’s consolidated net profit was at Rs 3806 crore, while gross revenue was down 1.9 per cent to Rs 1.27 trillion from a year ago.
“This quarter we had a good performance, both refining as well as marketing, both have performed well. In fact, our refining margins have improved from $4.4 per barrel during Q2 to $5.6 per barrel during quarter,” said G Krishnakumar, chairman and managing director for the company.
Commenting on crude oil prices, Krishnakumar added, “Crude, it is on the higher side, $80, which is not good for the industry, but we are foreseeing this will not continue for a longer period,” and further said, “Once the markets rebalance, and anyhow, the US has indicated that they are going to increase their production and in case OPEC removes their cuts, then new products will come to the market and in the long term, the crude has to come back to 70 to 75 levels.” He expects India’s retail fuel prices to remain stable.
In its marketing business, BPCL saw a four per cent rise in volumes from a year ago, against a double-digit growth reported by private players such as Reliance Industries for the same period.
Krishnakumar said, “The base impact of last year when crude prices were very high, where we had not increased the prices and not passing on the burden to the customers, most of the private refiners, did not supply the product to the market. They got back their volumes and it is not that they have taken any good amount of market share from the PSUs.”
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BPCL’s current market share in fuel retail (private and public included), the executive said, was upwards of 22 per cent.
For its liquified petroleum gas (LPG) business, for the nine-month period ending December, the executive noted Rs 7,200 crore was the negative buffer.
“We are hopeful for support from the government as they have supported in the past for under-recoveries in this segment,” he added.
BPCL for the full-year FY25 is estimated to spend Rs 16000 crore, higher from the earlier stated Rs 13000 crore. In FY26, the top executive said, capex is likely to be around Rs 18500 to Rs 19000 crore. BPCL earlier announced plans to set up a refinery in Andhra Pradesh, and said a detailed report is likely by the end of calendar year 2025. The currently estimated capacity is in the range of 9-12 million tonnes, with a rough investment of Rs 1 trillion.
In a separate announcement to the exchanges, BPCL said its board has approved the submission of a development plan to the Indonesian Regulator for development of Nunukan block for oil and gas reserves. Once the development plan is approved by the regulator and various conditions/terms are met, an estimated investment of $ 121 million will be incurred, the company added.