Hindustan Petroleum Corp Ltd (HPCL) on Monday reported a ₹2,970-crore net profit for the fourth quarter of FY19 as inventory gains and rupee appreciation negated a dip in refinery margins. This was 70 per cent higher than the ₹1,748-crore net profit it witnessed in Q4 FY18.
Turnover rose to ₹72,840 crore in Q4 (₹66,351 crore).
HPCL declared a final dividend of 94 per cent (₹9.40 for each share of ₹10). Shares of HPCL closed 6.78 per cent higher at ₹293.60 on the BSE on Monday.
The standalone profit after tax for FY19 stood at ₹6,029 crore, against ₹6,357 crore in the previous fiscal, a company statement said.
