BPCL · Oil Gas & Consumable Fuels
No check fired. That is a statement about the checks below, not a verdict on the company.
Margin rose sharply on flat revenue. Which cost fell, and will it stay down?
EBITDA margin 8.6%, +362 bps on the year (+164 bps on the quarter).
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1.15 lakh cr | ₹1.17 lakh cr | ₹1.13 lakh cr | ₹1.03 lakh cr | ₹1.13 lakh cr | ₹1.11 lakh cr | ₹1.13 lakh cr | ₹1.05 lakh cr | ₹1.19 lakh cr | ₹1.19 lakh cr | ₹1.51 lakh cr | ₹1.49 lakh cr |
| YoY | — | — | +0% | −0% | −2% | −5% | −0% | +2% | +5% | +7% | +34% | +42% |
| EBITDA margin | 5.4% | 7.7% | 5.0% | 4.4% | 6.6% | 7.0% | 8.6% | 9.3% | 9.8% | 8.1% | −2.7% | 6.0% |
| Other income, % of PBT | 21% | 6% | 21% | 41% | 10% | 18% | 21% | 16% | 7% | 12% | — | 10% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 27% | 28% | 26% | 26% | 29% | 26% | 23% | 26% | 26% | 28% | — | 26% |
| Net profit | ₹3,181 cr | ₹4,790 cr | ₹2,842 cr | ₹2,297 cr | ₹3,806 cr | ₹4,392 cr | ₹6,839 cr | ₹6,191 cr | ₹7,188 cr | ₹5,625 cr | −₹1,873 cr | ₹4,863 cr |
| YoY | — | — | −73% | −72% | +20% | −8% | +141% | +170% | +89% | +28% | −127% | −21% |
| Core profit YoY | — | — | −77% | −82% | +39% | −23% | +130% | +284% | +89% | +43% | −196% | −16% |
| EPS | ₹7.33 | ₹11.04 | ₹6.55 | ₹5.29 | ₹8.77 | ₹10.12 | ₹15.76 | ₹14.27 | ₹16.57 | ₹12.96 | −₹4.32 | ₹11.21 |
| Flags | · | · | 1 | 2 | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | 2 | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Bharat Petroleum Corporation Ltd. reported revenue of ₹1.13 lakh cr (−0.5% on the year) and net profit of ₹6,839 cr (+140.6% on the year) for April to June 2025.
Profit before other income, exceptional items and tax moved +130.4% on the year, against +140.6% for reported profit.
None of the 7 checks that could run raised a question.
No. FinMinutes reports what was filed and the questions the numbers raise. It does not recommend buying, selling or holding any security.
Numbers as filed with the exchanges, read by rules. Every flag is a question with its source, not an accusation. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security. How each check works.