State-run (BPCL) on Tuesday reported a 28 per cent Y-o-Y jump in its consolidated net profit at around ₹5,625 crore in Q4 FY26 aided by rising fuel demand and despite an impairment loss of ₹4,349.13 crore.
The total consolidated income of India’s third largest refiner’s net profit rose on an annual basis to roughly ₹1.36 lakh crore in Q4 FY25. On a sequential basis, the income was almost flat.
During the March quarter in FY26, the PSU oil marketing company (OMC) achieved a refinery throughput of 10.40 million tonnes (MT) with a capacity utilisation of 118 per cent. Its domestic market sales stood at 13.86 MT, a growth of 3.28 per cent Y-o-Y.
Speaking to businessline, BPCL CMD Sanjay Khanna emphasised the company maintained operational stability across its refining and marketing businesses during the fourth quarter, ensuring uninterrupted fuel supplies, while strengthening its nationwide distribution network amid a rapidly evolving global energy environment.
On learning from crises such as the current one in West Asia, he said, “One is supply side learning. One has to explore and trade with different countries, so that if one route has disturbance, crude supply does not stop. That is the biggest learning. Then we have added more sources, whether it is Venezuelan or Brazilian crude. We are even exploring US crude.”
The current crisis in West Asia is a temporary phenomenon, and there will be some stress on the balance sheet, but the company will follow demand and pursue avenues to meet it. It will play its role as a concerned corporate citizen, Khanna noted.
On impairment loss, BPCL in its results filing on BSE said: “During FY26, Bharat Petro Resources (BPRL) has impaired investments in its subsidiary company due to change in prospects of its blocks. Accordingly, impairment testing has been carried out on equity investment made by the Corporation in BPRL and an impairment loss of around ₹4,349.13 crore has been recognised based on the value in use of assets as on March 31, 2026. The accumulated impairment loss on investments in BPRL as of March 31, 2026 is ₹11,313.83 crore.”
In Q4 FY26, BPCL reported a consolidated total expense of around ₹1.28 lakh crore, which is almost flat on a sequential basis. In Q4 FY25, BPCL incurred expenses of ₹1.22 lakh crore.
BPCL posted stellar results for the entire FY26 fiscal year. Its consolidated net profit rose by 93.78 per cent Y-o-Y to ₹25,843 crore.
It also reported its highest-ever refinery throughput of 41.15 MT in FY26 (FY25: 40.51 MT) and its highest-ever total sales of 55.72 MT in FY26 (FY25: 52.40 MT).
“BPCL’s performance during FY26 reflected sustained domestic energy demand, disciplined operations and continued momentum across key business segments, supported by a strong focus on supply-chain resilience, operational efficiencies and customer servicing,” Khanna, who also holds additional charge of Director (Refineries), noted.