BPCL Net Profit Rises 24% To Rs 3,200 Crore In September Quarter


BPCL Net Profit Rises 24% To Rs 3,200 Crore In September Quarter

BPCL Q2 Results: Net profit stood at Rs 3,200 crore in the September quarter

State-run oil refiner Bharat Petroleum Corporation Limited (BPCL) announced its July-September quarter results, reporting a net profit of Rs 3,200 crore on a consolidated basis, compared to Rs 2,589 crore in the corresponding period last year, marking a growth of 23.6 per cent year-on-year.

The privatisation-bound oil refiner’s revenue from operations in the second quarter of the current fiscal stood at Rs 1.02 lakh crore, compared to Rs 66,331 crore in the corresponding period last year, registering a growth of 53.7 per cent year-on-year.

The company’s board declared an interim dividend of Rs 5 per equity share of face value Rs 10 each – 50 per cent on the paid-up equity share capital of the company for the financial year 2021-22.

The board fixed November 12 as the record date to determine the eligibility of shareholders to receive the interim dividend. The dividend will be paid on or before November 27, according to a regulatory filing by Bharat Petroleum to the stock exchanges today.

In March, Bharat Petroleum had sold its entire 61.5 per cent stake in Numaligarh Refinery in Assam to a consortium of Oil India Limited and Engineers India and the Assam government for Rs 9,876 crore. The government is selling its entire 52.98 per cent stake in Bharat Petroleum.

Recently, the DIPAM Secretary announced that the government received a final dividend of Rs 6,665 crore from Bharat Petroleum for the 2020-21 fiscal.

On Friday, October 29, shares of BPCL settled 0.77 per cent lower at Rs 417.75 apiece on the BSE. Bharat Petroleum opened on the BSE at Rs 421.40., touching an intra day high of Rs 425 and an intra day low of Rs 413.55, throughout the trading session today.