BAJAJ BROKING
Along with the 1:2 bonus issue and ₹16.50 Final Dividend, HPCL's Q4FY24 results highlight a 25% decrease in net profit. This drop in net profit was attributed to lower refining margins and a price cut in petrol and diesel.
Hindustan Petroleum Corporation Ltd (HPCL) announced a bonus issue in the ratio 1:2 on Thursday, May 9, where it will issue one free share for every two equity shares held. The record date for the bonus issue is set as June 21, 2024.
However, the company unveiled its January-March quarter results for fiscal 2023-24 (Q4FY24), reporting a 25% decrease in net profit to ₹2,709.31 crore compared to ₹3,608.32 crore in the same period last year. This decline is primarily attributed to lower refining margins and a ₹2 per litre reduction in petrol and diesel prices.
Additional Read: Upcoming Q4 Results Today | SBI, Asian Paints, BPCL, HPCL
HPCL's board recommended a final dividend of ₹16.50 per equity share with a face value of ₹10 (pre-bonus), translating to ₹11.00 per equity share post-bonus for 2023-24. This final dividend is in addition to the interim dividend paid earlier.
Additional Read: Hindustan Petroleum Corporation Q4 Results
Despite the profit decrease, HPCL reported a turnover of ₹1.22 lakh crore for Q4FY24, up from ₹1.15 lakh crore in the same period of the previous year. The company's refineries processed the highest-ever crude throughput of 22.33 million tonnes during the year, operating at 103.3% of the installed capacity.
Additional Read: Share Market News
During the January-March quarter, HPCL commissioned 428 petrol pumps, reaching a milestone of 22,000 retail outlets, with a total of 22,022 outlets as of March 31, 2024. Furthermore, it commissioned electric vehicle (EV) charging facilities at 1,201 retail outlets, bringing the total number of outlets with EV charging facilities to 3,603 as of the same date.
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article:
Indian Overseas Bank Secures ₹1,359 Crore Income Tax Refund for AY 2015-16
11 Dec, 2024 | 2 Min. read
HG Infra Secures ₹899 Crore NH-227B Road Upgrade Project in UP
11 Dec, 2024 | 2 Min. read
NTPC Green Energy Secures 500 MW Solar Project with 250 MW ESS from SECI
11 Dec, 2024 | 2 Min. read
Awfis Space ₹583 Crore Block Deal Launches at ₹680 Floor Price
11 Dec, 2024 | 2 Min. read
Share Market Today | Gift Nifty Hints at Flat Start Amid Mixed Global Cues
11 Dec, 2024 | 4 Min. read
Gold Price in India - Gold Prices Edge Higher as Futures Hit $2,654.50
10 Dec, 2024 | 40 Min. read
Metropolis Healthcare Acquires Core Diagnostics for ₹246.83 Crore
10 Dec, 2024 | 2 Min. read
Vodafone Idea to Issue Shares Worth ₹1,980 Crore at 39% Premium
10 Dec, 2024 | 2 Min. read
Tata Motors To Increase Passenger Vehicle Prices By Up To 3% From January
10 Dec, 2024 | 2 Min. read
Share Market Today | Gift Nifty Signals Flat To Positive Start For Markets
10 Dec, 2024 | 4 Min. read
Syngene International Block Deal: Biocon to Sell 2% Stake at ₹825 per Share
10 Dec, 2024 | 2 Min. read
Know Supreme Facility Management IPO Objective & Investment Guide
10 Dec, 2024 | 4 Min. read
RBI Launches ULI: Transforming Loan Access
August 27, 2024 | 4 Min. read
Textile Sector in India
September 20, 2024 | 5 Min. read
List of IPOs with DRHPs Filed
November 30, 2023 | 3 Min. read
Aditya Birla Group
September 28, 2023 | 10 Min. read
Bajaj Housing Finance Ltd IPO: Things Smart Investors Need to Know
September 05, 2024 | 4 Min. read
Budget Stock Ideas 2024-2025 | Stocks to Buy Today
July 24, 2024 | 4 Min. read
IPO Eligibility Criteria : Full Details
March 15, 2024 | 6 Min. read
What Is the Lock-In Period in IPOs?
October 18, 2023 | 6 Min. read
Godfrey Phillips Announces 2:1 Bonus Shares
September 16, 2024 | 7 Min. read
Jindal Group- A Comprehensive Analysis
September 27, 2024 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading