Stock Spotlight: BPCL reports 7x net profit; record dividend

BPCL bucked the downtrend in trade on Thursday after the fuel retailer declared a record  dividend of ₹58 per equity share which amounts to a total payout of ₹12,581 crore dividend for FY'21. 

The record dividend was backed by a seven-fold year-on-year jump profit at ₹19,041 crore for the year gone by. 70 per cent of this profit at ₹11,940 crore came in from Jan-March quarter. 

The record dividend can be considered a parting gift to the government, which is selling its entire 52.98% stake in BPCL, and will get more than half of the dividend amount.