BPCL barrels a new high

about 4 months ago
No Image

BPCL posted a fantastic set of earnings for Q4FY21 with net profit coming in at a whopping Rs.11,940 crore v/s loss of Rs.1361 crore (YoY) and QoQ, it was up by a huge 330%. This massive jump in the bottomline, apart from the 22% (YoY) rise in revenue from operations at Rs.98,756 crore, was also on account of the Rs.6993 crore exceptional gain.

The PSU’s GRM for FY21 was at $4.06 per barrel v/s $2.50 per barrel (YoY).

Another reason for the big cheer – a BIG final dividend of Rs.58/share, which includes a one-time special dividend of Rs.35/share. The dividend declared is in addition to the interim dividend of Rs.21 paid earlier in the fiscal.

The Govt is planning to divest its 52.9% stake in the company, valued at over Rs.50,000 crore and is expected to be completed ion current FY22 fiscal.

Enthused by this performance, the stock opened itself at a new high of Rs.488, up over 3.5% over yesterday’s close on the back of an over 2.5 times jump in volumes.

Popular Comments

No comment posted for this article.