HPCL drops after dull Q4 result

HPCL dropped 5.8% to Rs 294 at 12:25 IST on BSE after net profit fell 3.9% to Rs 1747.89 crore on 17.76% rise in total income to Rs 61152.73 crore in Q4 March 2018 over Q4 March 2017.

The result was announced after market hours yesterday, 22 May 2018.

Meanwhile, the S&P BSE Sensex was down 18.58 points, or 0.05%, to 34,632.66

On the BSE, 5.05 lakh shares were traded in the counter so far compared with average daily volume of 3.35 lakh shares in the past two weeks. The stock had hit a high of Rs 310.30 and a low of Rs 290.25 so far during the day. The stock had hit record high of Rs 493 on 1 September 2017. The stock had hit a 52-week low of Rs 288.90 on 7 May 2018.

The large-cap company has an equity capital of Rs 1523.82 crore. Face value per share is Rs 10.

HPCL said that the relative inventory gains during Q4 March 2018 were lower as compared to Q4 March 2017. HPCL recorded domestic sales volume of 9.39 MMT with a growth of 7.2% in Q4 March 2018 over Q4 March 2017. The sales of Motor Spirit (Petrol) increased by 12.8%, High Speed Diesel by 9.3% and LPG by 6.7% in Q4 March 2018 over Q4 March 2017.

HPCL said average gross refining margins (GRMs) during the year ended 31 March 2018 were US$ 7.40 per barrel as against US$ 6.20 per barrel during the corresponding previous year.

HPCL said that the board of directors of the company has recommended final equity dividend of Rs 2.50 per share for the financial year ended 31 March 2018.

HPCL is a public sector oil marketing company.

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