BPCL shares rally 5% after Q4 earnings announcement

BPCL shares went up by 4.98 per cent to Rs 621.80 on the BSE while on the NSE, it climbed 5 per cent to Rs 621.95.

2 min readNew DelhiUpdated: May 10, 2024 11:58 AM IST

Bharat Petroleum Corporation Ltd advanced 5 per cent on Friday (File Image)

The stock of oil marketing company (OMC) major Bharat Petroleum Corporation Ltd (BPCL) advanced 5 per cent on Friday (May 10) after the company reported Q4 results a day ago.

BPCL shares went up by 4.98 per cent to Rs 621.80 on the BSE while on the NSE, it climbed 5 per cent to Rs 621.95.

BPCL on Thursday reported a 30 per cent fall in its March quarter net profit on lower refining margins. It also announced one bonus share for each share held.

BPCL reported a record net profit of Rs 26,858.84 crore for FY24 as opposed to a profit of Rs 2,131.05 crore in the previous year.

The company’s consolidated net profit of Rs 4,789.57 crore in January-March, the fourth quarter of the 2023-24 fiscal, was compared to Rs 6,870.47 crore in the same period of the preceding financial year.

BPCL board also approved a 1:1 bonus issue, that is one additional share for each share held.

The oil company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) dropped 19.4 per cent in the fourth quarter mainly because of the twin impact of falling refining margins and a pre-election petrol and diesel price cut.

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Turnover was almost flat at Rs 1.32 lakh crore when compared to Rs 1.34 lakh crore in January-March 2023.

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