State-owned Bharat Petroleum Corp on Wednesday reported a surge of as much as 140.7% in its consolidated net profit for the first quarter of the financial year 2025-26 at Rs 6,839.02 crore from Rs 2,841.55 crore in the same period the previous fiscal.
On a sequential basis, too, the net profit increased by 55.7% from Rs 4,391.83 crore in Q4FY25.
Steady revenue, stronger margins
The company’s revenue from operations during the quarter under review stood at 1.29 lakh crore, up from Rs 1.28 lakh crore during Q1FY25. Total income during the period remained largely muted at Rs 1.30 lakh crore.
The company’s average Gross Refining Margin (GRM) for the quarter ended June 30, 2025 stood at $4.88 per barrel against $7.86 per barrel in April-June 2024.
The company’s operating margin rose to 6.32% during the first quarter of FY26 compared with 2.68% in the same period a year ago.
Sales growth and capex roadmap
The company’s consolidated domestic market sales grew by 3.2% to 13.58 million tonnes in Q1FY26 from 13.16 million tonnes in Q1FY25.
Refinery throughput also increased to 10.42 million tonnes during the period from 10.11 million tonnes in Q1FY25.
For the current financial year 2025-26, the company has laid out a capex plan of Rs 20,000 crore of which Rs 17,200 crore will be in the form of direct investment whereas the remaining would be as equity investment through its joint ventures, it has earlier said.
For 2026-27, the company has earmarked Rs 25,000 crore as capex followed by Rs 30,000 crore in 2027-28. “All these major capex investments will go for City Gas Distribution business, petrochemicals and expansion in Mozambique and Brazil,” the company had said.
It also plans to increase the share of petrochemicals in its business mix to 8% of its total portfolio by 2028-29 from the current 2%.