BPCL Q1 Results 2026 LIVE: PSU stock to report earnings today - Here's what brokerages expect from the OMC stock

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BPCL Q1 Results 2026 LIVE: Bharat Petroleum Corporation Limited faces a volatile quarter as the company navigates extreme crude oil price swings and a major divergence between refining margins and domestic demand. The board meeting is scheduled for July 22, 2026, to consider the audited financial results and recommend a dividend for FY2026.
Bharat Petroleum Corp. Ltd. is expected to report a steep loss for the June quarter, mainly due to marketing losses incurred after a rise in crude oil prices, freight, and insurance costs caused by the war in West Asia. These higher costs could not be passed on to consumers by way of higher pump prices for fuels, including liquefied petroleum gas.
BPCL Q1 Preview
Brokerage firm Kotak Institutional Equities said adjusted for LPG compensation, BPCL likely to report EBITDA loss of Rs185 bn due to higher crude costs and very high likely losses in petrol and diesel marketing. LPG under-recoveries will increase significantly in Q1.
“We assume BPCL to account for Rs19.0 bn LPG compensation in this quarter. We expect OMCs to have adventitious loss on large inventories procured amid declining prices in second half,” the firm said.
The brokerage firm further said, “We assume (1) reported GRM of US$23/bbl (versus US$4.9/bbl yoy, US$17.8/bbl qoq), (2) crude throughput at 10.3 mmt (down 1.2% yoy, down 1.0% qoq), (3) auto fuel under-recovery of ~Rs270 bn (versus ~Rs66 bn under-recovery qoq, Rs80 bn over-recovery yoy), (4) under-recovery on domestic LPG of Rs64 bn (versus Rs13.4 bn qoq), (5) LPG compensation of Rs19.0 bn and (6) adventitious loss of US$2/bbl in refining and US$2/bbl in marketing.”
BPCL's refining operations are expected to remain relatively stable despite a challenging earnings environment. Crude throughput is estimated at 10.3 million metric tonnes, down 1.2% year-on-year and 1% quarter-on-quarter, indicating only a modest decline in refinery processing volumes. Even with healthy refining margins, overall profitability is expected to remain under pressure as marketing losses continue to outweigh gains from the refining business.
In the fourth quarter of FY26, BPCL reported a 57.7% decline in standalone net profit to ₹3,191 crore from ₹7,545 crore in the corresponding quarter of the previous year. The company also reported a one-time loss of ₹4,349 crore during the quarter. Revenue from operations slipped 0.3% to ₹1.18 lakh crore from ₹1.19 lakh crore a year earlier, while EBITDA declined 13.8% to ₹10,061 crore from ₹11,677 crore.
Consequently, the EBITDA margin narrowed to 8.5% from 9.8% in the year-ago period. Investors will closely watch whether BPCL can sustain its momentum in the first quarter of FY27.
Kotak Institutional Equities expects BPCL to report an adjusted EBITDA loss of Rs185 bn in the June quarter after factoring in Rs19 bn of LPG compensation. According to the brokerage, higher crude costs and steep losses in petrol and diesel marketing are expected to weigh on earnings, while domestic LPG under-recoveries are also likely to rise sharply during the quarter.
Shares of BPCL have risen 1.84% over the last five trading sessions. The stock has gained 1% in the past month, but declined 10.14% over the past six months and 17.44% on a year-to-date basis. Over the last one year, the stock has fallen 7.13%.
The trading window of the company is closed from July 1 to July 24 for designated persons and their immediate relatives, in accordance with SEBI rules to prevent insider trading.
Following the announcement of its June quarter (Q1 FY27) results, Bharat Petroleum Corporation Ltd. (BPCL) will host a conference call with investors and analysts on Thursday, July 23, 2026, at 12:00 p.m. (IST) to discuss the company's financial performance and address queries.
Conference dial-in details:
Universal Access: +91 22 6280 1342 / +91 22 7115 8243
International Toll-Free Numbers:
Singapore: 8001012045
Hong Kong: 800964448
UK: 08081011573
USA: 18667462133
Bharat Petroleum Corporation Limited (BPCL) declared its latest second interim dividend of ₹10 per share on January 23, 2026, during the board meeting held to approve the financial results for the quarter ended December 31, 2025.
BPCL is among India's largest public-sector oil marketing companies with a market capitalisation of over ₹1 lakh crore.
Bharat Petroleum Corporation Ltd. (BPCL) is expected to report a weak June quarter as higher crude oil prices, freight and insurance costs triggered by the war in West Asia squeezed profitability. The company could not fully pass on the increase in input costs through higher retail prices of petrol, diesel and domestic LPG, resulting in significant pressure on its fuel marketing business.
Bharat Petroleum Corporation Ltd. (BPCL) board will meet today, July 22, 2026, to consider the audited FY2026 financial results and recommend a dividend.
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