Bharat Petroleum Corporation Ltd (BPCL) consensus estimates for Q1FY20E:
- Revenue – Rs73,023cr, up by 1.8% yoy and down by 1.9% qoq, due to slight decline in crude throughput.
- EBITDA – Rs1,702cr, down by 56% yoy and by 72% qoq, due to lower refining margins.
- PAT – Rs796cr, down by 65% yoy and by 79% qoq,
- We expect BPCL to report weak results impacted by lower refining margins, which will be partially offset by higher-than-normal (+Rs0.5/liter) blended marketing margins on auto fuels.
- We assume 4% qoq decline in crude throughput to 8.1 mmt.