India's Bharat Petroleum profit drops amid crude oil price volatility

Bharat Petroleum

23/10/2026 15:34

Oct 23 (Reuters) - Bharat Petroleum Corporation BPCL.NS, India's third-largest refiner by capacity, reported a 22.5% fall in second-quarter profit on Friday, weighed down by volatile crude oil prices.
Here are some details:
The state-owned refiner's standalone net profit fell to 49.93 billion rupees ($525.9 million) in the quarter ended September 30, from 64.42 billion rupees a year ago
Average global Brent crude oil LCOc1 prices rose about 40% during the September quarter, as persistent Middle East tensions disrupted supply
Higher crude oil prices pressure fuel marketing margins, weighing on earnings from the retail sale of petrol and diesel as input costs outpaced retail fuel realizations
BPCL's total expenses jumped 32.8% to 1.52 trillion rupees, with cost of raw materials consumed rising 44.2%
Revenue from operations rose 29.8% to 1.58 trillion rupees, helped by 37.97 billion rupees of compensation from the Indian government for domestic LPG under-recoveries during April-September.

($1 = 94.9400 Indian rupees)

 (Reporting by Abhinav Parmar in Bengaluru; Editing by Shilpi Majumdar)
 ((Abhinav.Parmar@thomsonreuters.com;))