BPCL Share Price Declines Ahead Of Q3 Results

Bharat Petroleum Corp.'s share price declined before the company released its results for third quarter later in the day. The company will likely report Rs 5,265-crore net profit for the period, according to Bloomberg consensus estimates.

It is expected to report Rs 1.07 lakh crore revenue for the October-December period. Its operating profit or Ebitda will likely have grown to Rs 8,000 crore. It's margin is expected to be at 7.50%.

In the previous quarter, Bharat Petroleum reported a 20% fall in its net profit, missing analysts' expectations. In the July–September quarter, its revenue declined 9% to Rs 1,02,790.39 crore.

• Revenue down 9% to Rs 1,02,790.39 crore (Bloomberg estimate: Rs 1,08,975 crore).

• Ebitda down 20% to Rs 4,546.41 crore (Bloomberg estimate: Rs 6,048 crore).

• Margin at 4.4% versus 5% (Bloomberg estimate: 5.5%).

• Net profit down 20% to Rs 2,397.23 crore (Bloomberg estimate: Rs 4,118 crore)

Bharat Petroleum Corp.'s share price declined 1.39% to the day's low of Rs 276.30 apiece. It was trading 1.09% down at Rs 277.15 apiece as of 11:16 a.m., as compared to a 0.15% advance in the NSE Nifty 50.

The stock rose 20.10% in 12 months. The relative strength index was at 44.

Out of 34 analysts tracking the company, 18 maintain a 'buy' rating, eight recommend a 'hold' and eight suggest 'sell', according to Bloomberg data. The average 12-month analysts' consensus price target implies an upside of 26.1%.