HPCL shares surge over 11 pc on Q4 earnings

Shares of fuel retailer Hindustan Petroleum Corp Ltd (HPCL) today surged over 11 per cent after the company reported 31 per cent jump in net profit of the March quarter.
The stock soared 11.43 per cent to settle at Rs 567.45 on BSE. During the day, it zoomed 12.40 per cent to Rs 572.40.
On NSE, shares of the company jumped 11.55 per cent to end at Rs 567.60.
The company's market valuation rose by Rs 5,913.21 crore to Rs 57,646.21 crore.
In terms of volume, 13.21 lakh shares of the company were traded on BSE and over one crore shares changed hands on NSE during the day.

State-owned fuel retailer Hindustan Petroleum Corp Ltd (HPCL) today reported 31 per cent jump in March quarter net profit on higher refining margins and inventory gains.
HPCL, which had in 2016-17 issued bonus shares in the ratio of 2:1, also announced a bonus issue of one equity share of Rs 10 each for every two equity shares held.
Net profit in the January-March quarter of last fiscal was Rs 1,818.79 crore (Rs 17.90 per share), 31 per cent higher than Rs 1,387.91 crore (Rs 13.66 a share), in the same quarter of the previous fiscal, 2015-16, HPCL Chairman and Managing Director Mukesh Kumar Surana said.