Latest News | HPCL Shares Close Nearly 4 Pc Higher After Posting Manifold Rise in Q4 Profit

New Delhi, May 21 (PTI) Shares of Hindustan Petroleum Corporation Ltd (HPCL) on Friday closed the day nearly 4 per cent higher after the company reported its March quarter net profit soaring many folds.

During the day, it rallied 8.14 per cent to Rs 288.15 -- its 52-week high -- on the BSE. It closed at Rs 276.15, a gain of 3.64 per cent.

On the NSE, it jumped 3.79 per cent to close at Rs 276.50.

On traded volume terms, 14.51 lakh shares were traded at the BSE and over 3.31 crore units at the NSE during the day.

HPCL on Thursday reported its March quarter net profit soaring many folds to Rs 3,018 crore on the back of inventory gains and rise in refining margins.

The company had a net profit of Rs 27 crore in January-March 2020.

"Enhanced profitability was a result of robust operational performance, improvement in refinery margins helped by inventory gains and favourable exchange rate variations," HPCL Chairman and Managing Director M K Surana told reporters.

For the full 2020-21 financial year (April to March), HPCL posted a record net profit of Rs 10,664 crore as compared to Rs 2,637 crore for the previous year.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)