Hindustan Petroleum Corporation rose 0.73% to Rs 284.45 at 10:45 IST on BSE after the company reported 85.91% rise in net profit to Rs 1719.21 crore on 26.12% increase in net sales to Rs 67331.52 crore in Q1 June 2018 over Q1 June 2017.
The result was announced after market hours yesterday, 8 August 2018.Meanwhile, the S&P BSE Sensex was up 152.16 points, or 0.40% to 38,039.72.
On the BSE, 2.72 lakh shares were traded in the counter so far compared with average daily volumes of 3.20 lakh shares in the past two weeks. The stock had hit a high of Rs 293.10 and a low of Rs 283.60 so far during the day.
The stock hit a 52-week high of Rs 493 on 1 September 2017. The stock hit a 52-week low of Rs 251.10 on 4 July 2018.
The increase in profit is primarily because of higher refining margins due to inventory gains and also due to increased refining throughput and sales volume, as compared to the corresponding period of previous year, the company said.
Hindustan Petroleum Corporation (HPCL) is a public sector oil marketing company.
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