BPCL share price at 52-week low day after Q4 results; to pay Rs 6 dividend

BPCL Share Price NSE, BPCL Dividend 2022: Bharat Petroleum Corporation Limited's (BPCL) share price on Thursday hit 52-week low a day after the company announced its fourth-quarter results. The state-run oil and gas producer reported an 82 per cent decline in net profit to Rs 2,130.53 crore in the quarter ended March 2022. 

BPCL shares started trading at Rs 325 apiece on Thursday on NSE. It further weakened to hit a fresh 52-week low of Rs 312.20. On BSE, BPCL share price too hit a fresh 52-week low of Rs 312.20 per share after dropping over 3%. The scrip had hit a 52-week high of Rs 503 apiece on the BSE on September 14 last year.

BPCL closed at Rs 326 per share on the NSE and BSE each on Wednesday. 

BPCL Q4 Results 2022

The decline in the company's net profit in Q4 was mainly due to the fuel prices that it held despite the rise in cost. Notably, BPCL and other public sector oil companies held petrol and diesel prices for a record duration despite a surge in the cost of crude oil to a 14-year high. These companies started raising fuel prices from March 22 onwards but it ceased within 16 days.

Although the company's revenue from operations rose 25 per cent to Rs 1.23 lakh crore on higher oil prices, the losses on petrol, diesel and domestic LPG sales dented its financials.

BPCL Dividend 2022 

Meanwhile, BPCL in a regulatory filing said that the company's board has recommended a final dividend of Rs 6 per share. The dividend will be subject to the approval of shareholders.

The dividend of Rs 6 is in addition to the interim dividend of Rs 10 per share paid by the company.