Net sales (excluding excise duty) rose 5.18% YoY to Rs 1,18,999.37 crore in the December 2025 quarter.

Profit before tax (PBT) surged 63.43% YoY to Rs 10,093.99 crore during the quarter.

Total expenses increased 4.17% YoY to Rs 1,27,279.21 crore in Q3 FY26. The cost of materials consumed stood at Rs 53,680.89 crore (up 5.62% YoY), while employee benefits expenses declined 28.37% YoY to Rs 860.52 crore during the period under review.

In Q3 FY26, refinery throughput stood at 10.51 million metric tonnes (MMT), up 10.16% from 9.54 MMT in Q3 FY25. Domestic sales increased 4.76% YoY to 14.07 MMT in Q3 FY26 compared with 13.43 MMT in Q3 FY25.

Domestic market sales growth stood at 4.76% in Q3 FY26, compared with 3.95% in Q3 FY25. Export sales improved to 0.38 MMT in Q3 FY26 from 0.26 MMT in Q3 FY25.

The average gross refining margin (GRM) of the corporation for the nine months ended 31 December 2025 stood at $9.68 per barrel, compared with $5.95 per barrel in the corresponding period last year.

On the margins front, the company’s operating margin improved to 6.77% in Q3 FY26 from 3.75% in Q3 FY25, while the net profit margin rose to 5.26% from 2.98% during the same period.

The board of directors, at its meeting held on 23 January 2026, declared a second interim dividend of Rs 10 per equity share of face value Rs 10 each (100%) for the financial year 2025–26. The dividend will be paid through electronic mode on or before 21 February 2026. The Board has fixed Monday, 2 February 2026, as the record date to determine shareholder eligibility for the dividend.

Bharat Petroleum Corporation is a public sector company which is engaged in the business of refining crude oil and marketing petroleum products.

The counter slipped 1.37% to Rs 349.30 on the BSE.