SURGING AHEAD

BPCL delivered a strong FY24 performance, driven by robust refining margins, retail expansion, and bold strides in energy transformation

- By G. KRISHNAKUMAR

BHARAT PETROLEUM Corporation (BPCL), India's second-largest oil marketing company, wrapped up FY24 with a stellar financial performance, backed by strong refining margins, expanded retail footprint, and bold steps towards building a future-ready energy portfolio. The company posted a record consolidated net profit of Rs 26,858 crore for FY24, more than triple the Rs 8,788 crore reported in FY23. Total consolidated revenue from operations stood at Rs 5,32,719 crore, marginally lower than last year's Rs 5,34,567 crore—largely due to softening international crude and product prices. But it's the bottom-line growth that stole the show.

Chairman and Managing Director G. Krishnakumar called it a "year of transformative milestones," adding, "Our robust performance across refining, marketing, and petrochemicals, coupled with our renewed focus on sustainability and digitisation, sets a strong foundation for future growth." He retired earlier this year.