The share price of Bharat Petroleum Corporation (BPCL) touchedits 52-week high of Rs 488 this morning showing an increase of over 3% from yesterday’sclosing price.
The investors were in for more bonanza as the companyannounced a final dividend of Rs 58 per common share. This amount includesspecial dividend of Rs 35 per common share.
To enable these dividends will cost the company Rs 12,581.66crore including the special dividend which amounts to Rs 7,592.8 crore.
The company’s quarterly report revealed increase of overfour times in standalone profits at Rs 11,940.1 crore vs a profit of Rs 2,777.6crore in the previous quarter.
However, the latest quarter profit included a one-time gainof Rs 6,992.9 crore. The revenue from operations stood at Rs 98,755.62 crore vsRs 86,579.95 crore in the previous quarter.
As per the core earnings, there was not much surprise in themarket as the numbers reported were in line with the expectations. However, thecompany outperformed its peers by gaining market share in retail fuel marketing.
Overall, the large one-time special dividend was the strongpoint which cheered the investors. At 2:41 pm, the share price is Rs 470.30down 0.4% from the previous closing.