BPCL Q1 results preview: Profit to jump over 25%, revenue to dip nearly 5% amid pressure in refining business

BPCL Q1 results preview: Bharat Petroleum Corporation Ltd (BPCL) is all set to report its financial results for the quarter ended June 2023 (Q1FY24) on Wednesday, July 26. According to Zee Business research, BPCL is likely to report a 4.9 per cent year-on-year decline in standalone revenue at Rs 1,12,300 crore for the three-month period, compared to Rs 1,18,112.1 crore reported in the same period a year ago, due to pressure in the refining business.

They peg the company's margin to grow to 11.3 per cent on a year-on-year basis from 9.4 per cent. Moreover, the marketing margins are expected to improve due to a fall in crude oil prices and stability in petrol and diesel prices. The oil & gas company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) are expected to grow by 14.3 per cent to Rs 12,750 crore from Rs 11,153.7 registered in the year-ago period.

The company is likely to report a 25.2 per cent jump in profit to Rs 8,110 crore from Rs 6,478 crore registered a year ago. The analysts project growth and estimate a 3x increase in marketing GRM. However, an approximately 20 per cent drop in total GRM is estimated. Zee Business analysts peg refining throughput to decline by 6 per cent to 8 per cent. They also estimate a 3–4 per cent decline in marketing sales volume.

BPCL share price history

As of July 25, BPCL shares had grown over 21 per cent in value in one year, in line with a 19 per cent rally in the benchmark Nifty index.

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