Bharat Petroleum Corporation (BPCL) declined 4.47% to Rs 307 after the company's standalone net profit tumbled 71.80% to Rs 2,397.23 crore in Q2 FY25 as against Rs 8,501.17 crore posted in Q2 FY24.
Net sales (excluding excise duty) fell marginally to Rs 1,02,790.39 crore in the September quarter from Rs 1,02,985.56 crore recorded in the corresponding quarter previous year.Profit before tax (PBT) was at Rs 3,193.61 crore in the second quarter of FY25, fell 71.76% as compared with Rs 11,311.81 crore reported in Q2 FY24.
Total expenses increased by 9.04% YoY to Rs 1,15,647.70 crore in Q2 FY25. Cost of materials consumed was at Rs 57,604.14 crore (up 15.74% YoY) while employee benefits expense stood at Rs 768.91 crore (up 1.30% YoY) during the period under review.
In Q2 FY25, the refinery throughput was at 10.28 metric million tonnes (MMT), up 9.94% from 9.35 MMT posted in Q2 FY24. Market sales grew by 1.64% to 12.39 MMT in Q2 FY25 as against 12.19 MMT reported in Q2 FY24.
Sales growth tumbled to 1.64% in the second quarter of FY25 as compared to 6.56% reported in Q2 FY24. Export sales added 25% to 0.40 MMT in Q2 FY25 from 0.32 MMT registered in Q2 FY24.
The average gross refining margin (GRM) of the corporation for the quarter ended 30 September 2024 is $ 6.12 per barrel as compared to $15.42 per barrel recorded in Q2 FY24. This is before factoring the impact of Special Additional Excise Duty and Road & Infrastructure Cess, levied with effect from 1 July 2022.
The market sales of the corporation for the quarter ended 30 September 2024 was 12.39 MMT as compared to 12.19 MMT for the quarter ended 30 September 2023. Increase is mainly in MS-Retail (6.38%), LPG (4.45%) and ATF (14.53%).
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The market sales of the state-owned corporation stood at 12.39 mmt in the reporting quarter compared to 12.19 mmt in the September 2023 quarter.
Bharat Petroleum Corporation (BPCL) is the second largest Indian oil marketing company (OMC), engaged in refining of crude oil and marketing of petroleum products, with a significant presence in the upstream and downstream sectors of the oil and gas industry. The company attained the coveted 'Maharatna' status, joining the elite club of companies having greater operational & financial autonomy. The Government of India holds 52.98% stake in BPCL as of 30 September 2024.
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