HPCL Q4 results: Net profit jumps to Rs 3,018 cr on big inventory gains
New Delhi: Hindustan Petroleum’s fourth-quarter profit rose to Rs 3,018 crore from Rs 27 crore a year earlier on big inventory gains.
The sales for the quarter rose 19% to Rs. 84,905 crore. “Enhanced profitability was a result of robust operational performance, improvement in refinery margins helped by inventory gains and favorable exchange rate variations,” said HPCL NSE 4.35 % Chairman M K Surana.
The gross refining margin for the quarter was $ 8.11 per barrel compared to minus $1.23 per barrel in the same quarter last year. The company had an inventory gain of Rs 4,051 crore as against a loss of Rs 2,885 crore in the year-ago period. A 23% jump in oil prices during the quarter contributed to the inventory gain.
