Q2FY23 Preview: Bharat Petroleum Corporation: Loss After Tax seen at Rs47,612 million

7 Nov 2022 , 10:43 AM

Result date: 7^th November, 2022
Recommendation: Buy
Target price: Rs424

Bharat Petroleum Corporation (BPCL) could witness losses in marketing division as well as inventory losses (steep fall in crude oil prices). As a result, it is likely to post Loss After Tax for the September 2022 quarter. Poor GRMs (after accounting for export tax adjustments), and negative diesel retail margins could be other pain points.

Important management insights to watch out for:

• Outlook on GRMs
• LPG reimbursements from the government

Rs. Million	September 2022 estimates	YoY change	QoQ change
Profit After Tax	(47,612)	NA	NA

Source: Company, IIFL Research