900 per cent increase in net profit and FIIs increase stake: This PSU Maharatna company bags new order worth Rs 63,000 crore!

The stock has gained over 15 per cent in the last one year.

BPCL and GAIL have signed a 15-year agreement for the supply of 600 KTPA of propane from BPCL's LPG import facility at Uran to GAIL's PDH-PP project in Usar, Maharashtra. The agreement is estimated to be worth over Rs 4,250 crore per annum and Rs 63,000 crore for 15 years.

The agreement will enable GAIL to meet the propane feedstock requirement for its PDH-PP project, which is expected to commence operations in 2025. The agreement will also generate significant revenue for BPCL over the next 15 years. The agreement is beneficial to both parties, and it is expected to boost the Indian petrochemical industry.

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Bharat Petroleum is the second largest Indian Oil Marketing Company and one of the premier integrated energy companies in India, engaged in refining of crude oil and marketing of petroleum products, with a significant presence in the upstream and downstream sectors of the oil and gas industry.

In the recent quarter Q2FY23, the company posted strong Quarterly Results. The revenue of the company stood at Rs 116657.34 crore which declined by 9.11 per cent YoY. The operating profit of the company stood at Rs 13616.12 crore, while the PAT of the company stood at Rs 7943.48 crore, which increased by 952 per cent YoY. Additionally, FIIs have increased their stake in the company in September 2023.

Investors should keep a close eye on this stock.

Disclaimer: The article is for informational purposes only and not investment advice.