New Delhi: BPCL has produced excellent results in the Q4. The company's profit, margin and GRM were recorded higher than estimates. The company announced a DIVIDEND Rs 58 per share. Following these results, the brokerage has given bullish ratings to BPCL and targets of up to Rs 650.
Bharat Petroleum Corporation Limited (BPCL), a state-owned oil company facing the process of privatization, has shown strong performance in the last quarter of FY 2020-21, refuting all estimates. The net profit of the BPCL in Q4 was Rs 11,940 crore as compared to a net loss of Rs 29.58 crore (Net Loss) in the same quarter last year. In fact, industry experts in the poll had expressed hope that a net profit of Rs 1730 crore could be made in the March quarter of BPCL. But the company has proved all estimates wrong and earned a profit of Rs 11.940 crore, which is 7 times more than experts' estimates.
JPM has given an overweight rating on BPCL and set a share target of Rs 550. He says the dividend of Rs 58 per share given by the company is the biggest highlight. The market will continue to keep an eye on the progress of privatisation. JEFFERIES has opined on the BPCL saying that the core of the company has been as per EBITDA estimates. The marketing volume of the company has been better than that of the industry.
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