HPCL’s Q3 net profit sees three-fold rise

MUMBAI : State-run Hindustan Petroleum Corp. Ltd posted over three-fold rise in net profit to ₹2,355 crore for the December quarter against a net profit of ₹747 crore in the same year-ago period.

Revenue from operations, however, declined 2% year-on-year from ₹70,042.2 crore to ₹68,659.2 crore, but beat estimates.

At the operating level, its earnings before interest, tax, depreciation and amortization (Ebitda) increased nearly three-fold to ₹3,301.9 crore in the December quarter, compared with ₹1,155.9 crore in the the year-ago quarter. Ebitda margin expanded to 4.8% from 1.7% during the period, supported by lower raw material and finance cost, it said. HPCL’s stock was up 1.58% to ₹228.75 on the BSE post-results.