Bharat Petroleum Company reported its March quarter outcomes, with web revenue falling marginally by 1% year-on-year to ₹3,191 crore from ₹3,214 crore posted in the identical interval final yr.
Nevertheless, revenue plunged 57.7% on a sequential foundation, impacted by a pointy rise in distinctive gadgets, resulting from an impairment loss associated to its wholly owned upstream subsidiary, Bharat Petro Assets Restricted.
In the meantime, the income from operations in the course of the reporting quarter rose to ₹1,34,896 crore from ₹1,26,864 crore a yr in the past, however moderated 1.2% quarter-on-quarter. The EBITDA fell 13.8% QoQ to ₹10,061 crore, with margins contracting 100 foundation factors to eight.5%.
Its refinery throughput stood at 10.40 MMT, falling from 10.58 MMT within the year-ago quarter, whereas home gross sales got here in at 13.86 MMT, registering a modest 3.28% year-on-year development.
The corporate mentioned that it continued to incur losses on the sale of home LPG cylinders as promoting costs remained decrease than the precise value.
Each HPCL and IOCL reported larger quarterly income on robust refining margins and regular gasoline demand. Analysts had anticipated oil advertising and marketing firms to report a leap in fourth-quarter refining margins led by larger product cracks and stock beneficial properties.
Nevertheless, BPCL, India’s third-largest oil refiner by capability, didn’t disclose its common gross refining margin for the fourth quarter or for fiscal 2026. If crude oil costs rise after refiners purchase inventory cheaply, the worth of their stock will increase.
World Brent crude oil costs rose about 94% in the course of the January-March interval on provide issues as a result of US-Iran army battle which began in late February.
The battle began with the US and Israel attacking Iran on February 28, adopted by Tehran’s sweeping retaliation that shut the Strait of Hormuz, by means of which a bulk of India and the world’s oil and fuel provides flowed.
For the complete monetary yr FY26, BPCL reported consolidated income from operations of ₹5.22 lakh crore, in comparison with ₹5 lakh crore in FY25, whereas web revenue jumped sharply to ₹23,303 crore from ₹13,275 crore within the earlier fiscal yr.
BPRL impairment emerges as key drag on quarterly earnings
The corporate booked an impairment cost of ₹4,349.13 crore on its funding in Bharat Petro Assets Restricted resulting from weakening prospects in sure oil and fuel blocks. The cumulative impairment loss on BPRL investments stood at ₹11,313.83 crore as of March 31, 2026, as per the corporate’s earnings submitting.
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