Shares of state-run Bharat Petroleum Corporation Ltd (BPCL) were trading up over 3% in the early morning session on Friday, May 10, following the announcement of positive Q4 results on Thursday, May 9.
BPCL announced its results for the January-March quarter of fiscal year 2023-24 (Q4FY24) and declared a 1:1 bonus issue along with a final dividend. The Maharatna PSU will issue one additional share for each share held by shareholders. The record date for the bonus issue has been set for June 22, 2024, to determine shareholder eligibility for the bonus shares.
Overall the Q4 results were in line with the estimates, where the EBITDA increased by 48%
As of 9:40 AM, BPCL’s shares were trading 1.92% higher at ₹603.50 on the NSE.
The board of the state-run oil marketing company also recommended a final dividend of ₹21 per equity share (pre-bonus) with a face value of ₹10 each for the fiscal year 2023-24. This results in a final dividend of ₹10.5 per share (post-bonus), subject to shareholder approval.
