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The Union government which holds a 52.98 per cent stake in state-run Bharat Petroleum Corporation Ltd (BPCL) will receive Rs 6,665.76 crore from the company which announced a dividend of Rs 58 per equity share, including a one-time special dividend of Rs 35 per equity share of Rs 10 each, for the financial year ended March 31, 2021.
The company’s total dividend payout is Rs 12,581.66 crore, including a special dividend of Rs 7,592.38 crore.
The government is in the process of selling its entire stake in BPCL in a bid to privatize the company. BPCL reported an over four-fold jump in its January-March net profit to Rs11,940 crore against Rs 2,777 crore in the previous quarter. In the year-ago period, the company reported a net loss of Rs1,361 crore.The final dividend will be paid within 30 days from the date of its declaration at the annual general meeting and is subject to shareholders’ approval.
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BPCL reported revenue from operations of Rs 3.01 trillion for fiscal 2021. Total income was at Rs 1 trillion as against Rs 88,095 crore in the previous quarter.
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