HPCL shares slip nearly 5% post Q1 results

Shares of Hindustan Petroleum Corp Ltd (HPCL) today fell nearly 5 per cent even as the company reported a 30 per cent jump in June quarter net profit.
Despite a positive opening, the scrip failed to hold momentum and lost 4.68 per cent to Rs 1,157.70 as the trade progressed on BSE.
On NSE, shares of the company declined by 4.83 per cent to Rs 1,156.40.
HPCL yesterday reported a 30 per cent jump in net profit for June quarter to Rs 2,098.38 crore on rise in fuel sales and inventory gains.
Net profit of Rs 2,098.38 crore in April-June quarter was 30 per cent higher than Rs 1,614.13 crore net profit in the same period a year ago, HPCL Chairman and Managing Director Mukesh K Surana had said.

The company's turnover, however, slid to Rs 51,661.04 crore in April-June from Rs 54,822.32 crore due to fall in oil prices.