BPCL Q1 Results: Firm reports net profit of Rs 10,550.88 crore, beats estimates

BPCL Q1 results: Bharat Petroleum Corporation Limited (BPCL) on Wednesday (July 26) reported a net profit of Rs 10,550.88 crore on a standalone basis for the quarter ended June 30, 2023 (Q1FY24). In the corresponding quarter of the previous fiscal, the firm had reported a loss of Rs 6,263.05 crore in the year-ago period. On a sequential basis, the profit grew 62.8 per cent.

The profit figure beat analysts' estimates as Zee Business Research had pegged the company's profit at Rs 8,110 crore.

Revenue from operations stood at Rs 1,28,256.65 crore, down 7.3 per cent against Rs 1,38,389.60 crore registered in the year-ago period. On a quarter-on-quarter (QoQ) basis, the figure slipped 3.8 per cent.

On a consolidated basis, the net profit stood at Rs 10,644.30 crore. In the corresponding quarter of the previous fiscal, the firm had reported a loss of Rs 6,147.94 crore. The earning in the first quarter was 55 per cent higher than the net profit of Rs 6,870.47 crore in the preceding January-March quarter.