Mumbai: State-owned oil marketing major Bharat Petroleum Corporation Limited (BPCL) reported a strong financial performance for the third quarter of FY26, posting a standalone net profit of ₹7,545.27 crore for the quarter ended December 31, 2025. Along with the results, the Board of Directors announced a second interim dividend of ₹10 per equity share for FY 2025–26.
The financial results and dividend declaration were approved at the Board meeting held in Mumbai on January 23, 2026.
Strong Quarterly and Nine-Month Financial Performance
For the October–December 2025 quarter, BPCL reported standalone revenue from operations of ₹1.37 lakh crore, compared to ₹1.28 lakh crore in the corresponding quarter last year. Profit before tax (PBT) for the quarter stood at ₹10,093.99 crore, supported by improved operating margins and higher refining throughput.
On a nine-month basis (April–December 2025), the company posted a standalone net profit of ₹20,111.73 crore, nearly double the ₹10,061.20 crore reported in the same period last year. Earnings per share (EPS) for the nine months stood at ₹47.07.
Operating margin improved to 6.84% in Q3 FY26, while net profit margin rose to 5.52%, driven by favorable refining economics and higher market sales.
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Dividend Announcement and Record Date
The Board declared a second interim dividend of ₹10 per equity share (100%), on shares with a face value of ₹10 each. The dividend will be paid on or before February 21, 2026, exclusively through electronic mode.
BPCL has fixed Monday, February 2, 2026, as the record date to determine eligible shareholders for the interim dividend.
Operational Performance Highlights
BPCL delivered strong operational numbers during the quarter:
- Refinery throughput: 10.51 million metric tonnes (MMT)
- Domestic market sales: 14.07 MMT
- Export sales: 0.38 MMT
- Domestic sales growth: 4.76%
For the nine-month period, total refinery throughput stood at 30.75 MMT, while domestic market sales reached 40.32 MMT. The company reported an average gross refining margin (GRM) of $9.68 per barrel, significantly higher than $5.95 per barrel recorded in the corresponding period last year.
Consolidated Financial Snapshot
On a consolidated basis, BPCL reported a net profit of ₹7,188.40 crore for Q3 FY26 and ₹20,218.91 crore for the nine months ended December 2025. Consolidated revenue from operations for the nine-month period stood at ₹3.88 lakh crore.
The company’s consolidated net worth rose to ₹98,018.98 crore as of December 31, 2025, reflecting strong balance sheet fundamentals.
Auditor Observations
Statutory auditors issued a limited review report with no material misstatements in the financial results. However, they noted non-compliance with SEBI norms regarding the minimum number of independent directors on the Board during the reporting period. The auditors clarified that this observation does not affect their conclusion on BPCL’s financial performance.
Outlook
With strong refining margins, rising domestic fuel demand, and improved operational efficiencies, BPCL continues to maintain a healthy financial outlook. The interim dividend declaration further highlights the company’s focus on delivering value to shareholders.
About Bharat Petroleum Corporation Limited (BPCL)
Bharat Petroleum Corporation Limited is one of India’s leading public sector oil marketing companies, engaged in refining, marketing, and distribution of petroleum products. BPCL plays a key role in India’s energy security, operating major refineries and a nationwide fuel retail network while continuously focusing on growth, efficiency, and shareholder value.
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