The country’s famous oil company Bharat Petroleum Corporation today released quarterly results. In which information was given about the increased profits of the company. This will benefit the shareholders.
bpcl q4 result
Government Oil Company Bharat Petroleum Corporation announced the quarterly results today i.e. on Wednesday. In which the company had a profit of Rs 11,940 crore. Under which a dividend of Rs 58 per equity share will be given to the shareholders.
According to this quarterly figures, the company’s revenue grew 21.5 percent year-on-year to Rs 98,755.6 crore, much higher than analysts’ estimates. The company’s board approved a final dividend of Rs 58 per share, including a one-time special dividend of Rs 35 per equity share. The special dividend relates to the income collected from the shares sold by the company belonging to the BPCL trust.
The final dividend will be paid at the AGM within 30 days from the date of its announcement. The interim dividend paid annually by the company is in addition to the final dividend, which is Rs 21 per equity share.
It is to be known that BPCL’s income in the same period last year was about Rs.3,30,662 crore. The company had a loss of Rs 2,958 crore in the same quarter last year, but this time the company was expected to increase its income. Hence, shareholders will benefit after the results are declared.
Benefit from the sale of stake in the refinery
During the quarter, the company made a profit of Rs 9,422 crore from the sale of stake in subsidiary Numaligarh Refinery. However, in the subsidiary Bharat Petro Resources, the company has a loss of assets of Rs 2,032.8 crore.
Discussion of BPCL’s privatization
The government is selling a 52.98 per cent stake in Bharat Petroleum Corporation Limited (BPCL). For this, the government invited bids. With this decision, 45 thousand crore rupees can come to the treasury of the government. The country’s giant Vedanta had shown interest in this bid.
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