Dividend stocks BPCL, IOCL set board meeting date to consider Q3 results 2025 | Stock Market News
Source: Live Mint
Indian oil marketing companies Bharat Petroleum Corporation Limited (BPCL) and Indian Oil Corporation Limited (IOCL), are expected to announce their December quarter earnings over coming weeks.
BPCL informed investors through a regulatory filing on Friday, January 17 that the company’s board will meet on Wednesday, January 22 to consider and approve the unaudited financial results for the quarter ended 31st December 2024.
Additionally, the board will also consider the proposal for the declaration of an interim dividend for the financial year 2024-25 and the fixation of a record date for the same.
“The Board of Directors of Bharat Petroleum Corporation (BPCL) will meet on Wednesday, 22nd January 2025, inter alia, to consider and approve the unaudited financial results for the quarter ended 31st December 2024,” BPCL said in today’s exchange filing.
Similarly, the board of Indian Oil Corporation is scheduled to meet on Tuesday, January 27, inter alia, to consider and approve the standalone and consolidated unaudited financial results of the company for the quarter ended 31st December 2024.
“The Board meeting is scheduled on Tuesday, 27th January 2025, inter alia, to consider and approve the standalone and consolidated unaudited financial results of the company for the quarter ended 31st December 2024,” IOC stated in today’s regulatory filing.
Q3FY25 results preview
According to domestic brokerage firm JM Financial, OMCs are likely to report a significant QoQ improvement in EBITDA (on a low base) due to strong auto-fuel marketing margins, partly offset by LPG losses, and an improvement in GRMs aided by recovery in diesel cracks and minimal inventory loss.
The brokerage noted that OMCs weighted average auto-fuel gross marketing margin has further strengthened to ₹9.5/liter in Q3FY25, compared to ₹6.4/liter in Q2FY25. However, this improvement is likely to be partially offset by a QoQ rise in OMCs’ LPG under-recoveries ( ₹100–110 billion in Q3FY25 vs. ₹78.7 billion in Q2FY25) due to the absence of government compensation.
Furthermore, the brokerage expects OMCs’ Q3FY25 reported GRM to improve to USD 6.0–7.4/bbl (vs. USD 1.6–4.4/bbl reported in Q2FY25), driven by a recovery in diesel cracks (USD 14.6/bbl in Q3FY25 vs. USD 12.8/bbl in Q2FY25) and minimal crude inventory loss (USD 0.1–0.2/bbl in Q3FY25 vs. a loss of USD 1.5–2.0/bbl in Q2FY25) as Brent crude prices averaged USD 73.8/bbl in December 2024, compared to USD 74.3/bbl in September 2024.
Hence, the brokerage expects Q3FY25 EBITDA to jump sharply by 202% QoQ for IOCL, 93% QoQ for HPCL, and 70% QoQ for BPCL, supported by the low base effect.
Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
