State-owned Bharat Petroleum Corporation Ltd (BPCL) on Tuesday (November 21) said the company is planning to consider a proposal to declare an interim dividend for the financial year 2023-24 on November 29.

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As of September 30, 2023, BPCL has cash worth ₹23,324 crore on its books.

"...this is to inform you that a meeting of the Board of Directors would be held on Wednesday, November 29, 2023, to consider the proposal of declaration of interim dividend for the financial year 2023-24 and fixation of Record date," BPCL said in a regulatory filing.

"It is further notified that the Trading Window in terms of 'The Code for Prevention of Insider Trading in the securities of BPCL' shall remain closed from November 22, 2023,to December 1, 2023, (both days inclusive)," the company added.

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In the second quarter of FY23, BPCL reported a consolidated net profit of ₹8,243.55 crore compared to a loss of ₹ 338.49 crore in the same period a year back.

Pre-tax earnings from the downstream oil refining and marketing business came at ₹11,283.29 crore in the second quarter of the current fiscal as compared to a loss of ₹123.17 crore in the same period last year.

Revenues fell to₹.16 lakh crore in July-September from ₹1.28 lakh crore last year on lower oil prices. BPCL said it earned $ 15.42 on turning every barrel of crude oil into fuel in April-September 2023 as compared to a gross refining margin of $22.30 in the corresponding period last year.

Shares of Bharat Petroleum Corporation Ltd ended at ₹388.10, down by ₹3.85, or 0.98%, on the BSE.

First Published:Nov 21, 2023 4:40 PM IST