Q2FY24 Preview: Bharat Petroleum Corporation: Revenue seen at Rs. 1,168,561 million, PAT at Rs. 54,944 million

26 Oct 2023 , 10:30 AM

Result date: October 27, 2023

Recommendation: Buy

Target price: Rs. 450

Analysts at IIFL Capital Services expect Bharat Petroleum Corporation (BPCL) to witness decline in marketing margins on a sequential basis. Higher refining margins, though could partly offset this pressure.

According to analysts at IIFL Capital Services, oil marketing companies (OMCs) including BPCL could register yet another strong quarterly performance (profit versus loss on a year-on-year basis), although sequential profits could decline on a higher base. 

Important management insights to watch out for:

• Growth outlook 
• Margin drivers and trends thereof

Rs. Million	September 2023 estimates	YoY change
Revenue	1,168,561	1.8%
EBITDA	90,750	NM
Profit After Tax	54,944	LTP

Source: IIFL Research

LTP stands for Loss to Profit

NM stands for Not Matchable