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HPCL share zooms 8% after firm logs Rs 3,018-crore profit in Q4

HPCL share zooms 8% after firm logs Rs 3,018-crore profit in Q4 Average Gross Refining Margin during the year ended March 31, 2021, was $ 3.86 per barrel as against $ 1.02 per barrel during the corresponding previous year BusinessToday.In | May 21, 2021 | Updated 11:36 IST Representative Image Share of HPCL rose 8 per cent in the morning session to hit a fresh 52-week high of Rs 288.15 on BSE after the state-run oil retailer reported better than expected operating performance. The company reported a standalone net profit of Rs 3,017.96 crore for the quarter ended March 31. Profit in the December quarter stood at Rs 2,354.64 crore. The stock opened 5.8 per cent higher at Rs 282.00 against the previous close of Rs 266.45. The stock has gained 53 per cent in one year and risen 27 per cent since the beginning of this year. HPCL s share stands higher than 5 day, 10 day, 20 day, 50 day, 100 day, and 200 day moving averages. Market cap of the firm rose to Rs 39,322.16 crore.

HPCL share zooms 8% after firm logs Rs 3,018-crore profit in Q4

HPCL share zooms 8% after firm logs Rs 3,018-crore profit in Q4
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Hindustan Petroleum Q4 net profit jumps to Rs 3,018 cr on inventory gains

The company had a net profit of Rs 27 crore in January-March 2020. Enhanced profitability was a result of robust operational performance, improvement in refinery margins helped by inventory gains and favourable exchange rate variations, HPCL Chairman and Managing Director M K Surana told reporters. The company, which runs refineries at Mumbai and Visakhapatnam, earned USD 8.11 on turning every barrel of crude oil into fuel in January-March period. This is compared with a negative gross refining margin (GRM) of USD 1.23 per barrel. Inventory gains are booked when raw material (crude) prices rise by the time a company processes oil into fuel. Losses are booked when the reverse happens.

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