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BPCL announces a 1:1 bonus issue and a final dividend of ₹21 per share for FY24. Q4FY24 net profit fell 30% to ₹4,789.57 crore. For FY24, BPCL reported a record net profit of ₹26,858.84 crore.
Bharat Petroleum Corporation Ltd (BPCL) declared a bonus issue in the ratio of 1:1 along with a final dividend for the fiscal year 2023-24. Shareholders will receive one additional share for each share held. The record date for bonus shares is fixed as June 22, 2024.
Additional Read: BPCL Q4 Results
The bonus equity shares will be issued from the securities premium account which will require ₹2,169.25 crore. The estimated date for crediting bonus shares is July 8, 2024.
Additional Read: Bharat Petroleum Corporation Ltd
BPCL recommended a final dividend of ₹21 per equity share (pre-bonus), subject to shareholder approval at the annual general meeting (AGM). The final dividend will be paid within 30 days from the AGM, with the record date to be separately intimated.
Additional Read: Bharat Petroleum Corp Share Price
BPCL reported a 30% decline in net profit for the March quarter, amounting to ₹4,789.57 crore, attributed to lower refining margins. Turnover remained flat at ₹1.32 lakh crore compared to the same period last fiscal year.
For the full fiscal year 2023-24, BPCL achieved a record net profit of ₹26,858.84 crore, significantly higher than the previous fiscal year's ₹2,131.05 crore. The company earned $14.14 per barrel as its gross refining margin.
Krishnakumar, Chairman and MD of BPCL expressed cautious optimism for FY25, expecting crude oil prices to remain in the range of $83-87 per barrel. Despite potential challenges like geopolitical tensions and supply chain disruptions, BPCL aims to navigate uncertainties with agility.
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