BPCL's quarterly net profit falls 21% on fuel sales losses
Bharat Petroleum's consolidated profit dropped 21.45% as losses on below-market fuel sales outweighed higher refining margins, the company said.
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what happened
State-run Bharat Petroleum Corporation (BPCL) said on Friday that its consolidated net profit in Q2 FY27 fell 21.45% to around 4,863 crore. The company earned 6,191.5 crore in the same quarter of the previous fiscal year, according to the company's filing reported by Moody's.
Consolidated revenue from operations rose 29.7% to 1,57,818 crore from 1,21,605 crore. Higher refining margins partly offset losses on petrol, diesel and liquefied petroleum gas (LPG) sales. BPCL attributed the lower profit for April to September 2026 mainly to suppressed marketing margins on certain products.
why it matters
State oil marketing companies in India have been selling petrol, diesel and LPG below market rates, which weighs on their marketing margins. BPCL's cumulative under-recoveries on LPG reached 17,334.40 crore as of September 30, 2026, up from 12,318.52 crore on March 31, 2026. For investors, this points to growing financial strain in the fuel retail business of Indian oil companies.
market impact
Indian oil companies: below-market retail prices squeeze marketing margins and profits
tags
instruments
sources
- BPCL's Net Profit Falls 21% — Moody's, 24 October 2026 at 04:14 UTC
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