BPCL tanks after Q1 PAT slides 71% YoY to Rs 3,015 cr in FY25

Bharat Petroleum Corporation (BPCL) slipped 4.20% to Rs 304.70 after the company's standalone net profit tumbled 71.42% to Rs 3,014.77 crore in Q1 FY25 as against Rs 10,550.88 crore posted in Q1 FY24.

However, net sales (excluding excise duty) rose marginally to Rs 1,13,096.01 crore in the June quarter from Rs 1,12,978.23 crore recorded in the corresponding quarter previous year.

Profit before tax (PBT) was at Rs 4,032.04 crore in the first quarter of FY24, fell 71.22% as compared with Rs 14,013.12 crore reported in Q1 FY24.

Total expenses increased by 8.57% YoY to Rs 1,24,577.14 crore in Q1 FY25. Cost of materials consumed was at Rs 58,847.58 crore (up 16.94% YoY) while employee benefits expense stood at Rs 781.47 crore (down 11.44% YoY) during the period under review.

In Q1 FY25, the refinery throughput was at 10.11 metric million tonnes (MMT), down 2.41% from 10.36 MMT posted in Q1 FY24. Market sales grew by 3.21% to 13.16 MMT in Q1 FY25 as against 12.75 MMT reported in Q1 FY24.

Sales growth tumbled to 3.22% in the fisrt quarter of FY25 as compared to 8.42% reported in Q1 FY24. Export sales slipped 18.18% to 0.27 MMT in Q1 FY25 from 0.33 MMT registered in Q1 FY24.

The average gross refining margin (GRM) of the corporation for the quarter ended 30 June 2024 is $ 7.86 per barrel as compared to $12.64 per barrel recorded in Q1 FY24. This is before factoring the impact of Special Additional Excise Duty and Road & Infrastructure Cess, levied with effect from 1 July 2022.

The market sales of the corporation for the quarter ended 30 June 2024 was 13.16 MMT as compared to 12.75 MMT for the quarter ended 30 June 2023. Increase is mainly in MS-Retail (6.38%), LPG (4.45%) and ATF (14.53%).

Bharat Petroleum Corporation (BPCL) is the second largest Indian oil marketing company (OMC), engaged in refining of crude oil and marketing of petroleum products, with a significant presence in the upstream and downstream sectors of the oil and gas industry. The company attained the coveted 'Maharatna' status, joining the elite club of companies having greater operational & financial autonomy. The Government of India holds 52.98% stake in BPCL as of 30 June 2024.

Powered by Capital Market - Live News