Bharat Petroleum Reports Annual Profit Of Rs 26,674 Cr

India’s second-largest oil marketing company Bharat Petroleum recorded its highest-ever annual net profit of Rs 26,673.50 crore as compared to the profit of Rs 1,870.10 crore in FY 22-23. The net profit for the fourth quarter of FY 23-24 of the company stood at Rs 4,224.18 crore as compared to the profit of Rs 6,477.74 crore in the corresponding quarter of FY 22-23.

The net profit for the fourth quarter of FY 23-24 stood at Rs 4,224.18 crore as compared to the profit of Rs 6,477.74 crore in the corresponding quarter of FY 22-23. BPCL’s consolidated net profit for the FY 23-24 stood at Rs 26,858.84 crore as compared to the net profit of Rs 2,131.05 crore in FY 22-23.

G. Krishnakumar, C&MD, BPCL said, “The Financial Year 2023-24 marks a significant milestone in our journey. We've achieved record-breaking operational and financial performance across refining throughput, domestic market sales, and profitability. Our Profit After Tax soared to a historic Rs 26,673.50 crore. These achievements provide a strong foundation for BPCL's ambitious strategy ‘Project Aspire’, which, at a planned capital outlay of Rs 1.7 lakh crore over a period of 5 years, will fuel our next wave of growth to create long-term value for our shareholders.”

Further company’s board has recommended a final dividend of ­Rs 21 per equity share (pre-bonus) for the year 2023-24, which translates into a final dividend of Rs 10.5 per share (post-bonus). The said dividend payment is subject to approval of the shareholders at the Annual General Meeting. 

This is in addition to the interim dividend of Rs 21 (pre-bonus) per equity share already paid during the year. The Board of Directors has recommended the issue of bonus shares in the ratio of one equity share of Rs 10 each for every one existing equity share of Rs 10 each, which is subject to approval by the shareholders of the company.