Bharat Petroleum Corporation Ltd.'s third-quarter profit declined, but beat analysts' estimates.
The company's net profit fell 60.03% year-on-year to Rs 3,397.27 crore in the quarter ended December, according to its exchange filing issued on Monday. This compares with a Rs 3,270 crore consensus estimate of analysts tracked by Bloomberg.
Bharat Petroleum Q3 FY24 Highlights (Standalone, QoQ)
Revenue up 11.47% to Rs 1,15,494.24 lakh crore. (Bloomberg estimate: Rs 1,05,220.86 crore).
Ebitda fell 51.77% to Rs 6,226.25 crore. (Bloomberg estimate: Rs 5,123.23 crore).
Margin at 5.39% vs 12.53% (Bloomberg estimate: 4.9%).
Net profit fell 60.03 % to Rs 3,397.27 crore. (Bloomberg estimate: Rs 3,270 crore).
Gross Refining Margins
The average gross refining margin of Bharat Petroleum Corp. for nine months ending Dec 31, 2024 stood at $14.72 per barrel compared to the $20.08 per barrel margin a year ago. This margin was before factoring the impact of Special Additional Excise Duty and Road & Infrastructure Cess, effective July 1, 2022.
Sales Volumes
The refinery throughput of the company rose 5.45% quarter-on- quarter to 9.86 million metric tonne.
Market sales rose 5.99% QoQ to 12.92 million metric tonne while export sales fell 12.5% to 0.28 million metric tonne.
Shares of the company traded 3.88% higher at Rs 492.80 apiece after the company posted its earnings. This compared to the 1.74% rise in the Nifty 50 as of 1:53 p.m.
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