HPCL Q4 profit surges 70% at ₹2,969.92 crore
MUMBAI: State-run Hindustan Petroleum Corporation Ltd (HPCL) posted an increase of 70% in its net profit, helped by inventory gain and rupee appreciation that offset a dip in refinery margins.
Net profit came in at ₹2,969.92 crore during the fourth quarter of the fiscal year 2019 against ₹1,747.89 during the corresponding period previous year, the company said in a filing to the BSE.
Total income came in at ₹73,672.50 crore for the quarter against ₹66,983.38 crore during the corresponding previous quarter.
Other expenses for the fiscal year includes ₹578.92 crore towards loss on account of foreign currency transactions and translations. During fiscal 2018, the company recorded a gain of ₹322.39 crore on account of foreign currency transactions.
