State-owned Bharat Petroleum Corporation Ltd (BPCL) reported a 22.5 per cent fall in September quarter net profit as earnings from operations weakened due to a retail price freeze despite rising costs.
BPCL's standalone net profit declined to ₹4,993 crore in July-September, the second quarter of fiscal 2027, from ₹6,443 crore a year earlier, according to a company statement.
Revenue from operations rose to ₹1.58 trillion from ₹1.22 trillion, while Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) fell nearly 14 per cent to ₹9,437 crore from ₹10,968 crore.
India's second largest fuel retailer earned $ 32.53 on turning every barrel of crude oil into fuels like petrol and diesel in July-September, as compared to $ 10.78 a barrel gross refining margin in the same period a year back.
But these gains were wiped away by losses arising from the five month old freeze in retail price revision despite a rise in cost.