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Bharat Petroleum (BPCL) investor relations material
Bharat Petroleum Q1 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q1 FY 2027 was marked by significant geopolitical volatility, impacting crude sourcing, pricing, and supply chains, but operational resilience and supply chain agility ensured uninterrupted fuel and LPG supplies across India.
Consolidated revenue from operations for Q1 FY27 was ₹1,59,527.05 crore, up 23% year-over-year, but the quarter ended with a consolidated net loss of ₹1,872.70 crore, compared to a net profit of ₹6,839.02 crore in Q1 FY26.
The loss was primarily due to suppressed marketing margins on certain petroleum products, partially offset by higher refining margins.
The company proactively increased spot crude purchases to 69% of total sourcing, diversified suppliers (notably Russian crude at 38%), and introduced new grades from Venezuela and Angola.
Exceptional income of ₹1,884.56 crore was recognized due to reclassification of foreign currency translation reserve on conversion of a JV to subsidiary.
Financial highlights
Revenue from operations for Q1 FY 2027 was INR 1,59,479 crore, with a standalone loss of INR 3,962 crore.
Consolidated total income for Q1 FY27 was ₹1,60,776.35 crore, up from ₹1,30,364.40 crore in Q1 FY26.
Marketing inventory gains of around INR 3,000 crore were recognized due to rising prices in most of the quarter.
Cumulative LPG compensation buffer stood at INR 15,804 crore as of June 30, 2026, after partial government compensation.
Debt-equity ratio at standalone gross borrowings level was 0.19x, with borrowings of INR 17,396 crore.
Outlook and guidance
Full-year CapEx guidance remains at INR 25,000 crore, with project expenditure expected to accelerate as execution milestones are met.
The company expects stable performance by year-end, with cash flows sufficient to fund ongoing and future projects.
Compensation for LPG under-recoveries is being received in monthly installments, supporting cash flows.
Management remains confident of continued government support for LPG compensation.
- Q1 FY26 net profit rose to ₹6,839.02 crore on strong operations and improved margins.BPCL
Q1 25/2622 Jul 2026 - Q1 FY25 profit was INR 3,015 crore, with robust throughput but lower margins and earnings.BPCL
Q1 24/258 Jul 2026 - Consolidated net profit rose to ₹25,843 crore, led by downstream, despite BPRL impairment.BPCL
Q4 25/2622 May 2026 - Net profit more than doubled year-over-year, with improved margins and strong revenue growth.BPCL
Q3 25/2623 Jan 2026 - Net profit fell sharply in Q2 FY25 despite revenue growth and ongoing major investments.BPCL
Q2 24/2518 Jan 2026 - Q3 FY25 profit rose with high throughput, but margin and regulatory pressures remain.BPCL
Q3 24/2510 Jan 2026 - Record sales and utilization, but profit fell on lower margins; major green capex planned.BPCL
Q4 24/2525 Dec 2025 - Strong profit growth and interim dividend declared, driven by higher refining margins.BPCL
Q2 25/2631 Oct 2025
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