Bharat Petroleum’s net profit slips in Q2 amid volatile oil prices

A man paints the logo of the Bharat Petroleum Corp (BPCL) oil refinery on a wall in the suburbs of Kochi, India. File | Photo credit: Reuters

Bharat Petroleum’s standalone net profits fell 22.5% year-on-year in the quarter ended September as volatile oil prices hit margins following a resurgence of conflict in West Asia.

The Mumbai-based refiner’s net profit declined to ₹ 4,993.17 crore in the reported quarter compared to ₹ 6,442.5 crore in the same period last year.

The cost of material consumed by the state-owned oil company rose 44.2% to ₹ 74,969 crore during the period.

Revenues increased 30% year-on-year to over ₹1.58 crore.

The physical output of refineries has seen an uptick. It grew by 6% to 10.41 million metric tons (MMT) during the said period.

Domestic sales rose 6.33% to 13.47 MMT.

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Its counterpart Hindustan Petroleum on Thursday reported a 9% decline in standalone net profit.

Delhi-based Peer Indian Oil is scheduled to release its September-end financial results on October 30.

Published – 23 Oct 2026 22:22 IST