Bharat Petroleum Third Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags

Bharat Petroleum (NSE:BPCL) Third Quarter 2024 Results

Key Financial Results

• Revenue: ₹1.30t (up 9.5% from 3Q 2023).
• Net income: ₹31.8b (up 82% from 3Q 2023).
• Profit margin: 2.4% (up from 1.5% in 3Q 2023). The increase in margin was driven by higher revenue.
• EPS: ₹14.94 (up from ₹8.20 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Bharat Petroleum Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 14%. Earnings per share (EPS) missed analyst estimates by 17%.

Looking ahead, revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Oil and Gas industry in India.

Performance of the Indian Oil and Gas industry.

The company's shares are up 8.9% from a week ago.

Risk Analysis

Before you take the next step you should know about the 2 warning signs for Bharat Petroleum (1 makes us a bit uncomfortable!) that we have uncovered.

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