HPCL falls after reverse turnaround in Q2

HPCL fell 1.03% to Rs 785.05 at 09:21 IST on BSE after the company reported net loss of Rs 320.50 crore in Q2 September 2015 compared with net profit of Rs 850.21 crore in Q2 September 2014.

The result was announced after market hours yesterday, 9 November 2015.

Meanwhile, the S&P BSE Sensex was down 131.30 points or 0.5% at 25,990.10

On BSE, so far 23,616 shares were traded in the counter as against average daily volume of 1.80 lakh shares in the past one quarter.

The stock hit high of Rs 790.95 and low of Rs 777.05 so far during the day. The stock had hit a record high of Rs 991 on 10 August 2015. The stock had hit a 52-week low of Rs 524.70 on 25 November 2014.

The large-cap PSU oil marketing firm has equity capital of Rs 338.63 crore. Face value per share is Rs 10.

HPCL's total income fell 18.4% to Rs 42367.60 crore in Q2 September 2015 over Q2 September 2014.

During Q2 September 2015, HPCL accounted for zero subsidy from the Government of India (GOI) on sale of PDS kerosene and domestic liquified petroleum gas (LPG) compared to subsidy of Rs 366.25 crore received from the GOI during Q2 September 2014. During Q2 September 2015, discount from ONGC amounted to Rs 377.99 crore on purchase of crude oil. During Q2 September 2014, discount amounted to Rs 7359.63 crore from ONGC and GAIL (India), on purchase of kerosene, crude oil and domestic LPG from them. Based on the approval from GOI, the company has accounted for budgetary support of Rs 840.89 crore during Q2 September 2015 towards under-recovery on sale of PDS kerosene. During Q2 September 2014, budgetary support amounted to Rs 3918.95 crore towards under-recoveries on sale of kerosene, LPG and diesel.

Government of India holds 51.11% stake in HPCL (as per the shareholding pattern as on 30 September 2015).

Powered by Capital Market - Live News