Companies

BPCL posts ₹11,940-cr profit in January-March quarter on one-time gain

Our Bureau Mumbai | Updated on May 26, 2021

Declares final dividend of ₹58 per share, including a one-time special dividend of ₹35 per equity share.

State-run oil refiner Bharat Petroleum Corporation Limited (BPCL) posted a net profit of ₹11,940.13 crore in the January-March quarter from a loss of ₹1,361.01 crore a year earlier boosted by a one-time gain of ₹6,992.95 crore from the sale of entire stake in Numaligarh Refinery Limited (NRL).

BPCL's revenue from operations during the fourth quarter rose 21.5% to ₹98,755.62 crore from ₹81,296.23 crore from a year ago.

For the full year, BPCL posted a net profit of ₹19,041.67 crore from ₹2,683.19 crore in FY20.

Revenue from operations for the full year declined to ₹301,864.98 crore from ₹327,580.78 crore.

The company’s board approved a final dividend of ₹58 per share, including a one-time special dividend of ₹35 per equity share.

The government holds a 52.98% stake (1,14,91,83,592 equity shares) in BPCL, and the dividend of ₹58 a share would fetch a bumper ₹6,665.26 crore to the exchequer in what could be the penultimate year before the oil firm is privatised.

The special dividend is resorted to taking out surplus cash from a state-owned company before it is privatised.

Published on May 26, 2021

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