Hindustan Petroleum Corporation (HPCL) has moved higher by nearly 4% at Rs 219, bouncing back 5% from early morning low, after reporting a net profit at Rs 319 crore for the second quarter ended September 30, 2013 (Q2).
Analyst on an average expected a net loss of Rs 538 crore from state-run refiner. The company had posted profit of Rs 2,327 crore in a year ago quarter.
The profit during July-September 2012 was mainly due to additional compensation relating to April - June 2012 received and accounted in the second quarter, HPCL said in a statement.
Net sales for the quarter grew 8.4% to Rs 52,525 crore from Rs 48,464 crore in the corresponding quarter of previous fiscal.
The stock opened at Rs 210 and touched a low of Rs 209 on BSE before the announcement of Q2 results. A combined around 250,000 shares have changed hands on the counter so far on BSE and NSE.
Analyst on an average expected a net loss of Rs 538 crore from state-run refiner. The company had posted profit of Rs 2,327 crore in a year ago quarter.
The profit during July-September 2012 was mainly due to additional compensation relating to April - June 2012 received and accounted in the second quarter, HPCL said in a statement.
Net sales for the quarter grew 8.4% to Rs 52,525 crore from Rs 48,464 crore in the corresponding quarter of previous fiscal.
The stock opened at Rs 210 and touched a low of Rs 209 on BSE before the announcement of Q2 results. A combined around 250,000 shares have changed hands on the counter so far on BSE and NSE.
