Q1FY24 Preview: Bharat Petroleum Corporation: Revenue seen at Rs. 940,138 million, PAT at Rs. 89,933 million

25 Jul 2023 , 11:59 AM

Result date: 26^th July, 2023

Recommendation: Buy

Target price: Rs. 424 

Oil Marketing Companies (OMCs) are all set to shine during the June 2023 quarter. Benefits of Russian oil and firm retailing margins will drive their earnings during the quarter. Bharat Petroleum Corporation (BPCL) and other OMCs are expected to report profit as against loss booked in the year-ago quarter.

 Super-normal marketing margins, coupled with favorable Russian crude could boost BPCL’s gross refining margins.

The company’s Profit After Tax or PAT could grow 15% on a sequential basis.

Rs. Million	June 2023 estimates	QoQ change	YoY change
EBITDA	145,767	31%	NM
Profit After Tax	89,933	15%	NM

Source: IIFL Research

NM: Not Matchable