However, net sales (excluding excise duty) rose 6.71% year on year (YoY) to Rs 1,18,649.38 crore in the March 2026 quarter.

Profit before tax (PBT) marginally shed 0.10% YoY to Rs 4,257.96 crore during the quarter.

Total expenses increased 4.71% YoY to Rs 1,27,353.05 crore in Q4 FY26. The cost of materials consumed stood at Rs 54,264.27 crore (down 6.51% YoY), while employee benefits expenses jumped 52.03% YoY to Rs 1,119.68 crore during the period under review.

In Q4 FY26, refinery throughput stood at 10.40 million metric tonnes (MMT), down 1.70% from 10.58 MMT in Q4 FY25. Domestic sales increased 3.27% YoY to 13.86 MMT in Q4 FY26 compared with 13.42 MMT in Q4 FY25.

Domestic market sales growth stood at 3.28% in Q4 FY26, compared with 1.82% in Q4 FY25. Export sales improved to 0.35 MMT in Q4 FY26 from 0.30 MMT in Q4 FY25.

Net cash used in operating activities stood at Rs 47,703.28 crore as of 31 March 2026, compared with Rs 23,604.83 crore as of 31 March 2025.

On the margins front, the company’s operating margin improved to 5.59% in Q4 FY26 from 4.13% in Q4 FY26, while the net profit margin shed to 2.37% from 2.53% during the same period.

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