State-run Bharat Petroleum Corporation (BPCL) on Wednesday reported a 20 per cent year-on-year growth in its consolidated net profit at around ₹3,806 crore during the December quarter in FY25. On a sequential basis, the oil marketing company’s net profit was higher by 66 per cent.

The company’s consolidated total income stood at around ₹1.28 lakh crore in Q3 FY25 from ₹1.31 lakh crore in Q3 FY24 and ₹1.19 lakh crore in Q2 FY25.

Its total expenses during the October-December quarter in FY25 stood at ₹1.23 lakh crore (₹1.27 lakh crore); in Q2, it was ₹1.16 lakh crore.

Exceptional item (expense) of ₹1,798.02 crore for the year ended March 31, 2024, is on account of an impairment loss on investment in a subsidiary, the OMC said in its results filing on the BSE.

Average GRM decreases

The average Gross Refining Margin (GRM) for the nine months ended December 31, 2024, is $5.95 per barrel ($14.72 per barrel). This is before factoring the impact of Special Additional Excise Duty and Road & Infrastructure Cess, levied from July 1, 2022, it added.

The Oil Ministry had conveyed to OMCs that where the Market Determined Price (MDP) of LPG cylinders is less than its Effective Cost to Customer (ECC), the OMCs will retain the difference in a separate buffer account for future adjustment, BPCL said. However, as on December 31, 2024, the corporation has a cumulative net negative buffer of around ₹7,228.56 crore and accordingly, the revenue from sale of LPG was reduced, it added.

The board has declared interim dividend of ₹5 per share.

Published on January 22, 2025