Investor handout for Q2 and H1 FY27: profit after tax ₹ 4,993 crore, refining margin US $ 32.53/bbl
BPCL has shared an investor handout of key figures from its unaudited results for the quarter and half year ended 30 September 2026.
By ScoutQuest · · 2 min read
- Profit after tax (Jul-Sep 2026)
- ₹ 4,993 crore (Jul-Sep 2025: ₹ 6,443 crore)
- Profit after tax (Apr-Sep 2026)
- ₹ 1,031 crore (Apr-Sep 2025: ₹ 12,566 crore)
- Refining margin (GRM) Jul-Sep 2026
- US $ 32.53 per barrel, against US $ 10.78 a year earlier
Bharat Petroleum has released an investor handout carrying key figures from its unaudited results for the quarter and half year ended 30 September 2026. The figures are placed next to the same periods a year earlier, so the year-on-year direction can be read directly.
Profit
- Profit after tax for Jul-Sep 2026 was ₹ 4,993 crore, against ₹ 6,443 crore in Jul-Sep 2025.
- For the half year Apr-Sep 2026, profit after tax was ₹ 1,031 crore, against ₹ 12,566 crore in Apr-Sep 2025.
Refining margin
- The GRM (BPCL) for Jul-Sep 2026 was US $ 32.53 per barrel, against US $ 10.78 per barrel in Jul-Sep 2025.
- The handout states that these GRMs are before factoring the impact of Special Additional Excise Duty and Road & Infrastructure Cess, levied with effect from 27 March 2026.
Sales volumes
- Total sales, covering domestic sales and exports, were 14.06 MMT in Jul-Sep 2026.
Debt
- The debt position as on 30 September 2026, excluding IND AS 116 lease liabilities, was ₹ 15,246 crore.
What else the handout covers
- Refinery throughput for the quarter was higher than a year earlier, with all three refineries listed separately.
- Domestic sales of petrol, diesel and ATF were higher year on year, while domestic LPG and SKO volumes were lower.
- Exports for the quarter were higher than a year earlier.
- Distillate yield was lower than a year earlier, and the share of high sulphur crude in total crude was higher.
- The financial section also carries separate lines for forex fluctuation gain or loss, marketing inventory gain or loss, interest expenditure and interest income.
How to read the two headline trends together
- The refining margin per barrel and the profit after tax are moving in different directions. A higher refining margin raises the margin earned on each barrel processed, but the profit figure is struck after all other items, including the separately listed forex and marketing inventory lines.
- Interest expenditure and interest income are shown separately, and the handout notes that interest expense for Apr-Sep 2026 includes interest on lease liability under IND AS 116.
- Debt is shown excluding lease liabilities, with the lease liability amount disclosed separately in the notes to the table.
Also from Bharat Petroleum Corporation
BPCL reschedules 2Q FY27 post-results conference call to 26 October 2026, 11:00 a.m. IST
23 Oct 2026
Board approves incorporation of wholly owned subsidiary for Ramayapatnam refinery and petrochemical complex
23 Oct 2026
Board approves unaudited standalone Q2 results; auditor review conclusion unmodified, board composition flagged
23 Oct 2026
More numbers
- Profit after tax, Jul-Sep 20264,993
- Profit after tax, Jul-Sep 20256,443
- Profit after tax, Apr-Sep 20261,031
- Profit after tax, Apr-Sep 202512,566
- GRM (BPCL), Jul-Sep 202632.53
- GRM (BPCL), Jul-Sep 202510.78
- Debt position excluding IND AS 116 liabilities, as on 30 September 202615,246
- Total sales, Jul-Sep 202614.06
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