HPCL rises after robust Q3 outcome

Hindustan Petroleum Corporation reported 167.8% surge in consolidated net profit to Rs 1027.23 crore on a 1.9% decline in net sales to Rs 70518.09 crore in Q3 December 2019 as against Q3 December 2018.

Hindustan Petroleum Corporation reported 167.8% surge in consolidated net profit to Rs 1027.23 crore on a 1.9% decline in net sales to Rs 70518.09 crore in Q3 December 2019 as against Q3 December 2018.

On a standalone basis, Hindustan Petroleum Corporation (HPCL) reported 201.8% jump in net profit to Rs 747.20 crore on a 1.9% drop in net sales to Rs 70,447.93 crore in Q3 December 2019 over Q3 December 2018.

 

Shares of HPCL were trading 0.89% higher at Rs 239. The PSU OMC announced its Q3 earnings after market hours yesterday, 5 February 2020.

HPCL is engaged in the business of refining of crude oil and marketing of petroleum products. It operates through two segments: downstream, and exploration and production of hydrocarbons. ONGC holds 51.11% stake in HPCL as of 31 December 2019.

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