HPCL gained 0.94% to Rs 246.9 at 11:14 IST on the BSE after consolidated net profit declined 55.9% to Rs 877.48 crore on 5% increase in net sales to Rs 70776.43 crore in Q1 June 2019 over Q1 June 2018.
The result was announced after market hours yesterday, 7 August 2019.
Meanwhile, the S&P BSE Sensex was up by 76.74 points or 0.21% at 36,767.24
On the BSE, 1.27 lakh shares were traded in the counter so far compared with average daily volumes of 2.55 lakh shares in the past two weeks. The stock had hit an intraday high of Rs 248.2 and an intraday low of Rs 243.65 so far during the day. The stock hit a 52-week high of Rs 333.45 on 3 June 2019 and a 52-week low of Rs 163.45 on 5 October 2018.
On standalone basis, the company's consolidated net profit declined 52.8% to Rs 810.95 crore on 5% increase in net sales to Rs 70710.53 crore in Q1 June 2019 over Q1 June 2018.
The average gross refining margin was at $0.75 per barrel in Q1 June 2019 as against $7.15 per barrel in Q1 June 2018.
HPCL accounted for budgetary support amounting to Rs 146.93 crores during Q1 June 2019 as against Rs 274.37 crore in Q1 June 2018 towards under recovery on sale of PDS SKO.
HPCL is one of the major integrated oil refining and marketing companies in India.
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