Hindustan Petroleum Corporation (HPCL) rose 1.15% to Rs 356 after the firm has announced the appointment of Rajneesh Narang as chief financial officer (CFO), effective March 27, 2025.
Narang replaces K. Vinod, who had been serving as CFO since 11 September 2024.
Rajneesh Narang, a seasoned finance professional and chartered accountant, currently holds the position of directorfinance at HPCL. Notably, he previously served as the companys CFO from 22 March 2022 to 10 September 2024 before K. Vinods appointment.
The company clarified that Narang is not related to any of HPCLs directors. This leadership change comes as HPCL continues to strengthen its financial strategies and growth initiatives in Indias dynamic energy sector.
HPCL is engaged in the business of refining crude oil and marketing petroleum products. It operates through two segments: downstream and exploration and production of hydrocarbons.
The companys standalone net profit zoomed 471.4% to Rs 3,022.90 crore in Q3 FY25 as against Rs 529.02 crore posted in Q3 FY24. Net sales (excluding excise duty) shed by 0.8% year on year (YoY) to Rs 109,979.59 crore in the December 2024 quarter.
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