BPCL net profit declines 71% Y-o-Y in Q1 FY25

State-run Bharat Petroleum Corporation (BPCL) on Friday reported a 71 per cent year-on-year fall in its consolidated net profit at ₹2,842 crore during Q1 FY25 on account of shrinking marketing margins. On a sequential basis, the oil marketing company’s (OMC) net profit was down by 41 per cent. The company’s consolidated revenue was largely flat on an annual basis at around ₹1.28-lakh crore. Total consolidated expenses were also largely flat on a sequential basis at around ₹1.25-lakh crore. The expenses in Q1 FY25 stood at ₹1.15-lakh crore. BPCL said that its gross refining margins (GRM) during Q1 FY25 stood at $7.86 per barrel compared to $12.64 in Q1 FY24. For the entire FY24, its GRM stood at $14.14 “BPCL has demonstrated growth by 3.22 per cent in achieving 13.16 million tonne (mt) market sales in Q1 FY25 against 12.75 MT in Q1 FY24,” the company said. In Q1 FY25, the company’s throughput was 10.11 mt against 10.36 mt in the year-ago period, it added. “We have achieved our highest ever Average Ethanol Blending percentage of 14.14 per cent during Q1 FY 24-25. BPCL added 171 New Fuel Stations in Q1 FY25, taking their network strength to 22,011,” it said. The OMC added 5 new distributors, taking LPG distributor network strength to 6,255 and the customer base increased to 9.33 crore. Thirty-five CNG Stations were commissioned in Q1 FY25 taking the total CNG stations as on June 30, 2024 to 2,064, it added.