Bharat Petroleum Corporation Limited (BPCL) has submitted an investor handout containing unaudited financial results for the quarter ended 30th June 2026 (Q1 FY2027) to BSE Ltd. and National Stock Exchange of India Ltd. under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

Profitability:

  • Reported a loss before tax of ₹5,305 crore for Q1 FY2027, compared to a profit before tax of ₹8,157 crore in Q1 FY2026 (Apr-Jun 2025-26) and ₹4,258 crore in Q4 FY2026 (Jan-Mar 2025-26).
  • Reported a loss after tax of ₹3,962 crore for Q1 FY2027, compared to a profit after tax of ₹6,124 crore in Q1 FY2026 and ₹3,191 crore in Q4 FY2026.

Other Financial Items:

  • Recorded a foreign exchange fluctuation gain of ₹346 crore in Q1 FY2027, compared to a gain of ₹20 crore in Q1 FY2026 and a loss of ₹936 crore in Q4 FY2026.
  • Incurred a marketing inventory loss of ₹3,134 crore in Q1 FY2027, compared to a loss of ₹835 crore in Q1 FY2026 and a gain of ₹1,275 crore in Q4 FY2026.
  • Interest expenditure was ₹415 crore in Q1 FY2027, which includes ₹198 crore on lease liability under IND AS 116. This compares to ₹374 crore in Q1 FY2026 (including ₹189 crore for lease liability) and ₹479 crore in Q4 FY2026.
  • Interest income was ₹367 crore in Q1 FY2027, compared to ₹390 crore in Q1 FY2026 and ₹440 crore in Q4 FY2026.

Debt and Investments:

  • Debt position (excluding IND AS 116 liabilities) stood at ₹17,396 crore as of 30th June 2026, a significant increase from ₹10,709 crore as of 30th June 2025 and ₹10,480 crore as of 31st March 2026.
  • The company held Government Securities with a face value of ₹2,827 crore as of 30th June 2026, compared to ₹3,590 crore a year ago and ₹2,327 crore at the end of the previous quarter.
  • Lease liability under IND AS 116 was ₹10,799 crore as of 30th June 2026, slightly lower than ₹10,942 crore as of 31st March 2026.

Key Metric:

  • The Gross Refining Margin (GRM) was $41.41 per barrel for Q1 FY2027. This is a weighted average of the company's three refineries and is calculated before factoring the impact of Special Additional Excise Duty and Road & Infrastructure Cess, which were levied effective 27th March 2026. This compares to a GRM of $4.88 per barrel in Q1 FY2026 and $17.53 per barrel in Q4 FY2026.

Operational Performance (Q1 FY2027)

Refining:

  • Total refinery throughput was 10.15 Million Metric Tonnes (MMT).
  • Throughput was broken down as follows: Mumbai Refinery (MR) at 3.77 MMT, Kochi Refinery (KR) at 4.31 MMT, and Bina Refinery (BR) at 2.07 MMT.
  • Distillate Yield was 84.07%.
  • High Sulphur crude constituted 74% of the total crude processed.

Marketing:

  • Total sales of petroleum products were 14.13 MMT.
  • Domestic sales were 13.62 MMT, comprising:
  • LPG: 1.69 MMT
  • Motor Spirit (MS): 3.11 MMT
  • High Speed Diesel (HSD): 6.56 MMT
  • Superior Kerosene Oil (SKO): 0.03 MMT
  • ATF: 0.58 MMT
  • Others: 1.65 MMT
  • Exports were 0.51 MMT.

The information was digitally signed by V. Kala, Company Secretary, and is also available on the company's website at www.bharatpetroleum.in.