BPCL shares jump 5% after Q4 results; announces 1:1 bonus issue
BPCL jumped 5% to Rs 621.8 in Friday's trade on BSE despite the firm posted a 35% drop in its standalone net profit at Rs 4,224 crore in the quarter ended March 2024, compared with Rs 6,478 crore in the last-year period.
Meanwhile, its revenue from operations during the March quarter fell marginally to Rs 1.32 lakh crore as against Rs 1.33 lakh crore posted in the same quarter of the previous fiscal.
The company's board has also approved a bonus issue in the proportion of 1:1, where investors get one extra share for every one share held in the company.
For the proposed bonus issue, the board has fixed June 22 as the record date to determine the eligibility of shareholders.
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Apart from the bonus issuance, the board has also recommended a final dividend of Rs 21 per equity share (pre-bonus), which translates into a final dividend of Rs 10.5 per share post the bonus issue. The final dividend would be paid within 30 days from the date of the AGM.
The record date for the final dividend will be intimated in due course. Ebitda for the reporting quarter came in at Rs 9,213 crore, while margins were at 7.9%.
The refinery throughput during the fourth quarter declined marginally to 10.36 mmt, compared with 10.63 mmt in the last quarter.
For FY24, BPCL posted a net profit of 26,673 crore, which jumped multi-fold from just Rs 1,870 crore reported in the previous fiscal. Revenue from operations in FY24 declined to Rs 5.06 lakh crore as
