BPCL Profit Falls 22.5% Amid Crude Oil Volatility
India’s Bharat Petroleum Corporation Limited (BPCL), the country’s third-largest refiner by capacity, reported a 22.5% decline in standalone net profit for the second quarter ended September 30, 2026. Net profit fell to ₹4,993 crore from ₹6,442 crore in the same period last year, largely due to volatile crude oil prices.
Global Brent crude oil prices rose around 40% during the quarter amid persistent tensions in the Middle East that disrupted supplies. Higher crude prices put pressure on fuel marketing margins, as rising input costs outpaced retail prices of petrol and diesel, affecting the company’s earnings.
Despite the profit decline, BPCL’s revenue from operations increased 29.8% to ₹1.58 lakh crore. Total expenses surged 32.8% to ₹1.52 lakh crore, while raw material costs rose 44.2%. The company also received ₹3,797 crore in government compensation for domestic LPG under-recoveries during April–September 2026.
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