The share price of Bharat Petroleum Corporation (BPCL) dropped 3% in the opening hours of trading on June 23 as a board meeting to discuss a fund-raising plan was scheduled.
By the requirements set forth by applicable law, the board of directors of Bharat Petroleum Corporation will meet on June 28, 2023, to discuss the various modalities for capital infusion, including rights issues, for achieving energy transition, net zero, and energy security objectives.
The trading window will be shut down by "the code for prevention of insider trading in the securities of BPCL" starting on June 23, 2023, and ending on June 30, 2023.
In comparison to the same quarter a year prior, the company's standalone net profit increased by 159 percent to Rs 6,478 crore for the quarter that ended March 31, 2023.
Compared to the same quarter last fiscal year, the revenue from operations climbed by 8% to Rs 1.33 lakh crore in the March quarter.
When compared sequentially to the previous quarter (Q3FY23), the net profit increased by 230 percent to Rs 1,960 crore.
Additionally, the corporation recorded its highest-ever market sales of 48.92 MMT from April to March 2023, up 15.08 percent from the comparison period's 42.51 MMT.
Bharat Petroleum Corporation was trading at Rs 362.80 at 9:30 a.m. on the BSE, down Rs 10.65 or 2.85 percent.
