The state-run oil refiner Bharat Petroleum Corporation Ltd (BPCL) is expected to report a loss of Rs 625 crore in the quarter ended March 2020 as compared to a profit of Rs 3,120 crore in the December quarter on account of declining gross refining margins.
Revenues during Q4FY20 is expected to decline by 18 percent to Rs 60,720 crore from Rs 73,990 crore in the previous quarter.
EBITDA may fall 86 percent on a sequential basis to Rs 645 crore versus Rs 4,530 crore while EBITDA margin is likely to witness contraction of almost 500 basis points (bps) to 1 percent from 6.1 percent, QoQ.
BPCL's reported gross refining margins (GRM) are seen at -$3 per bbl versus $3.20 per bbl, QoQ, and versus $2.70 per bbl, YoY. Core GRMs are seen at $2.20 per bbl versus $2.20 per bbl, QoQ and versus $2.60 per bbl, YoY.
The company's Singapore business GRMs are estimated to be at a 17-year low due to lower demand.
Crude throughput in Q4FY20 is likely to decline by 3 percent to 8.1 mmt. Domestic sales are estimated at 11.1 mmt versus 11.4 mmt, YoY.
However, auto fuel margins are expected to improve to Rs 5.30/litre, QoQ.