Despite a fall in refinery margins, state-run Hindustan Petroleum Corp (HPCL) on Monday reported a 70% year-on-year (y-o-y) increase in its net profit for the fourth quarter of FY19 on the back of inventory gains and rupee appreciation.
The net profit for the quarter under review stood at `2,970 crore against `1,748 crore in the same period a year ago.
“Profits increased mainly due to increased sales, improved logistics, efficiency, inventory gains and rupee appreciation during Q4 of financial year ending March 31, 2019,” said MK Surana, CMD, HPCL.
