In This Article:
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Revenue from Operations: INR 1,17,952 crore for the quarter.
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Profit After Tax: INR 2,397 crore.
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LPG Losses: INR 2,104 crore absorbed.
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Marketing Losses: Approximately INR 200 crore.
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Capital Expenditure: INR 5,662 crore spent from April to September against an estimated capacity of INR 16,400 crore for FY24-25.
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Standalone Net Worth: INR 76 crore to INR 45 crore as of September 30.
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Dividend Distributed: INR 4,447 crore during the quarter.
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Earnings Per Share: INR 5.61 per share for the quarter.
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Debt to Equity Ratio: 0.28 at standalone gross borrowing level.
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Standalone Gross Borrowings: INR 21,529 crore as of September 30.
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Group Level Debt to Equity Ratio: 0.64 with gross borrowings of INR 49,187 crore.
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Refinery Throughput: 10.28 MMTPA, achieving 114% of nameplate capacity.
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Distillate Yield: 84.33% for the quarter.
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Gross Refining Margin (GRM): $4.41 per barrel for the current quarter and $6.12 per barrel for the half year.
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Domestic Market Share Growth: 1.6% year on year during the quarter to 12.39 MMT.
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New Retail Outlets: 540+ commissioned in H1 FY25.
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CNG Retail Outlets: 90 added in H1, total count at 2,120 stations.
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Ethanol Blending: Achieved 14.97% during the quarter.
Release Date: October 28, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Bharat Petroleum Corp Ltd (BOM:500547) achieved a throughput of 10.28 MMTPA, which is 114% of the nameplate capacity, indicating strong operational performance.
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The company registered a market share gain of 0.1% in MS retail and 0.12% in HKT retail among PSU during the first half of the current financial year.
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BPCL's distillate yield was 84.33% in the quarter, one of the highest among peers.
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The company achieved the highest ever ethanol blending rate of 14.97% during the quarter.
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BPCL plans to expand its retail network significantly, with 540 new retail outlets commissioned in H1 FY25 and plans to add 300 more CNG outlets by the end of FY25.
Negative Points
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Bharat Petroleum Corp Ltd (BOM:500547) faced LPG losses of around INR2,104 crore, impacting profitability.
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The company recorded marketing inventory losses of INR1,113 crore for the quarter.
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There was a significant fall in international product cracks, affecting the company's GRM, which decreased to $4.41 per barrel in the current quarter.
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BPCL's debt levels increased, with standalone gross borrowing at INR21,529 crore as of September 30.
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The company anticipates further absorption of losses in the coming quarters due to expected high Saudi CP levels.