The fall in profit was primarily due to weaker gross refining margins (GRMs) and under-recoveries on the sale of LPG.

Net sales (excluding excise duty) declined 4.59% year on year (YoY) to Rs 1,11,178.96 crore in the March 2025 quarter.

The company reported profit before exceptional items and tax of Rs 6,036.44 crore in Q4 FY25, compared to Rs 7,441.38 crore recorded in the same period a year ago. The firm reported exceptional items of Rs 1,773.93 crore during the quarter.

Total expenses decreased by 2.79% YoY to Rs 121,621.48 crore in Q4 FY25. The cost of materials consumed was Rs 58045.06 crore (up 2.64% YoY), while employee benefits expenses stood at Rs 736.46 crore (down 13.26% YoY) during the period under review.

In Q4 FY25, the refinery throughput was at 10.58 metric million tonnes (MMT), up 2.12% from 10.36 MMT posted in Q4 FY24. Market sales grew by 1.82% to 13.42 MMT in Q4 FY25 as against 13.18 MMT reported in Q4 FY24.

Sales growth declined to 1.82% in the fourth quarter of FY25, compared to 2.09% reported in Q4 FY24. Export sales surged to 0.30 MMT in Q4 FY25 from 0.23 MMT registered in Q4 FY24.

On a full-year basis, the company's net profit tanked 50.23% to Rs 13,275.26 crore on a 1.74% drop in net sales (excluding excise duty) to Rs 440,131.93 crore in FY24 over FY23.

The average gross refining margin (GRM) of the corporation for the year ended 31 March 2025 is $6.82 per barrel, compared to $14.14 per barrel recorded in Q4 FY24. This amount is prior to factoring in the impact of special additional excise duty and road & infrastructure cess, levied with effect from 1 July 2022.

On the margins front, the company's operating margin reduced to 4.13% in Q4 FY25, compared with 5.26% recorded in Q4 FY24. Net profit margin declined to 2.53% in Q4 FY25 from 3.20% registered in Q4 FY24.

Meanwhile, the company’s board has declared an interim dividend of Rs 5 per equity share of face value of Rs 10 each, subject to the approval of the shareholders at the ensuing annual general meeting (AGM). The final dividend would be paid within 30 days from the date of its declaration at the AGM.

Bharat Petroleum Corporation (BPCL) is the second largest Indian oil marketing company (OMC), engaged in the refining of crude oil and marketing of petroleum products, with a significant presence in the upstream and downstream sectors of the oil and gas industry. The company attained the coveted 'Maharatna' status, joining the elite club of companies having greater operational & financial autonomy. The Government of India holds a 52.98% stake in BPCL as of 31 March 2025.

Shares of Bharat Petroleum Corporation rose 1.72% to Rs 316.95 on the BSE.