Bharat Petroleum Corporation Ltd delivered a remarkable 170% surge in consolidated net profit for Q2 FY26, driven by higher refining margins, better marketing spreads, and effective expense control.
Financial Highlights
- Revenue: ₹1,04,946 crore, up 2.1% from ₹1,02,785 crore in Q2 FY25.
- Total Expenses: ₹97,976 crore, down 2.97% from ₹1,00,970 crore a year ago—reflecting strong cost discipline.
- Net Profit: ₹6,191 crore, a 169.53% jump from ₹2,297 crore last year.
- Earnings per Share (EPS): ₹14.27, compared to ₹5.29 last year.
- Gross Refining Margin (GRM): Averaged $7.77/bbl for H1 FY26, indicating efficiency gains despite lower global crude throughput.
- Dividend: The Board declared an interim dividend of ₹7.50 per share.
Operational and Strategic Insights
- Refinery throughput for Q2 FY26: 9.82 MMT (down 4.5% YoY), with domestic sales up 3.19% to 13.58 MMT.
- Cost of materials consumed fell nearly 10% YoY, while employee expenses rose modestly.
- Marketing, distribution, and technology initiatives supported higher profitability even on moderate revenue growth.
- Received government compensation for LPG under-recoveries, boosting cash flows.
- Continued investments in expanding the fuel retail network and renewable energy projects.
Outlook
BPCL remains well-positioned for continued profit momentum, benefiting from its cost-efficient operations, technological upgrades, and government support for energy transition and LPG subsidy compensation.
The Q2 FY26 performance highlights BPCL’s strategic agility and strengthens its standing as a leading public sector oil and gas company in India.
Explore the company’s past earnings and latest concall transcripts, click here to visit the AlphaStreet India News Channel.