State-run petroleum major Bharat Petroleum Corporation Limited (BPCL) reported a 22.5 per cent decline in standalone net profit in the second quarter (July-September) of the current financial year 2026-27 to Rs. 4,993 crores. In the same quarter last fiscal, its net profit on a standalone basis stood at Rs. 6,443 crores. The company said in a statement that its operational revenue during the period increased to Rs. 1.58 lakh crore, compared to Rs. 1.22 lakh crore. At the same time, earnings before tax (EBITDA) declined by nearly 14 percent to Rs. 9,437 crores. In the same quarter of last financial year it was Rs. 10,968 crores.

How much damage?

The country’s second-largest fuel retailer earned a gross refining margin (GRM) of $32.53 for each barrel of crude oil converted into fuels such as petrol and diesel in the July-September quarter. In the same period of the previous financial year, it was $10.78 per barrel. However, losses due to unchanged retail fuel prices for the past five months despite rising costs largely neutralized this gain. Due to losses related to marketing and stores, the company incurred Rs. 330 crore loss and fluctuations in foreign currency exchange rates of Rs. A loss of Rs 397 crore was recorded.

Decrease in profits

BPCL’s net profit on a consolidated basis also declined by 21.5 percent to Rs. 4,863 crore as compared to Rs. 6,191 crores. During the period, consolidated revenue grew by 29.8 percent to Rs. 1.58 lakh crore, while EBITDA fell by 13.4 percent to Rs. 9,647 crores. BPCL said its refineries’ total throughput in the July-September quarter was 10.4 million tonnes, 118 percent of their installed capacity. 1.34 crore tonnes of fuel was sold in the domestic market during this period. BPCL also has plans ahead for a new 10 million tonne per annum refinery and petrochemical campus project at Ramaipatnam in Andhra Pradesh.