Result date: 22nd May, 2023
Recommendation: Buy
Target price: Rs. 424
Analysts at IIFL Capital Services expect Oil Marketing Companies (OMCs) to report the best quarter for the fiscal, as the auto fuel margins rebound. Bharat Petroleum Corporation (BPCL)’s quarterly performance will be aided by fuel over-recoveries and resilient refining margin.
Ramp up of utilization at BPCL’s Kochi refinery could drive strong growth in refinery throughput, both over the year-ago quarter and sequentially.
BPCL’s Profit After Tax (PAT) could grow 12% as compared to the year-ago quarter and 36% sequentially.
|
March 2023 estimates |
YoY change |
QoQ change |
|
| Profit After Tax (Rs. bn) |
26.7 |
12% |
36% |
Source: IIFL Research
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