BPCL Q4 results: Consolidated net profit down 8.3% to ₹4,392 crore

Gross refining margins in FY25 were $6.82 per barrel, less than half of FY24's $14.14 per barrel

State-owned oil marketing company (OMC) BPCL on Tuesday reported a consolidated net profit of ₹4,392 crore for the fourth quarter (January-March) of 2024-25 (FY25).

 

This was an 8.3 per cent fall compared to ₹4,789.5 crore in the corresponding quarter of the previous financial year.

 

Sequentially, the OMC saw net profit rise by 15.3 per cent from ₹3,805.94 crore in the previous quarter.

 

BPCL announced a final dividend of ₹5 per share for a face value of ₹10. “The final dividend would be paid within 30 days from the date of declaration at the annual general meeting (AGM),” BPCL said in a filing

 

 

Revenue from operations in Q4FY25 fell by 3.9 per cent to ₹1.26 trillion. Meanwhile, total expenses also slipped by 2.81 per cent to ₹1.21 trillion in the latest quarter.

 

The average gross refining margin (GRM) of BPCL for FY25 came in at $6.82 per barrel. This is less than half of the $14.14 in FY24. GRM is the amount that refiners earn from turning every barrel of crude oil into refined fuel products.

 

In Q4, market sales of the state refiner for the quarter stood at 13.42 million metric tonnes (MMT), slightly more than the 13.18 MMT in Q4FY24. This is a growth of 3.22 per cent.

 

The throughput was 10.58 MMT in Q4, down from 10.36 MMT a year back.

 

BPCL said it lost ₹3,217.82 crore by selling domestic LPG lower than the cost price in Q4.

 

In April 2020, the petroleum ministry had told OMCs that if the market determined price (MDP) of LPG cylinders is less than its effective cost to customer (ECC), they must retain the difference in a separate buffer account for future adjustment.

 

BPCL said that on March 31, it had a cumulative net negative buffer of ₹10,446.38 crore, as a result of which revenue from the sale of LPG has not been recognised.

 

BPCL shares rose 0.52 per cent during intraday trading on Tuesday to ₹311.6.