HPCL reports 31% rise in Q4 net profit

HPCL revenue rose 21.7% to Rs 59,183.49 crore from Rs 48,625.27 a year earlier

For ONGC's joint venture blocks, net realisation stood 67.9 per cent higher at $48.72 per barrel in the fourth quarter 2016-2017 from $29.01 per barrel in the corresponding period of financial year 2015-2016.

Riding on better performance in refining margins and inventory gains, Hindustan Petroleum Corporation (HPCL) on Friday reported a 31 per cent jump in the March 2017 quarter net profit at Rs 1,819 crore. During the fourth quarter of 2017, it had an inventory gain of Rs 743 crore against Rs 37 crore during the same period past year.

For the year 2016-17, HPCL has proposed a final dividend of Rs. 1.10 per share. For the full year 2016-17, the company's profit was up 10.9 per cent at Rs17,900 crore compared with Rs 16,140 crore in the previous year.

The company's Board approved a bonus issue of 1:2, implying that investors will receive one share for every two stock units held by her.

For January-March period, the company reported 47.59 per cent increase in total expenditure at Rs 20,696.46 crore against Rs 14022.15 crore in the same period past year. Q4FY17 net profit also increased by 9.77% from Rs 1,656.81 crore in the preceding quarter. Total income of the company increased by 8.35% at Rs 215673.04 crore for year under review as compared to Rs 199046.94 crore for the year ended March 31, 2016.

ONGCshares were up 0.95% at Rs 175.80 in a firm Mumbai market whose benchmark Sensex was up 0.9% to hit a record 31,028.21.

The gross refining margin came in at United States dollars 7.99 per barrel against USD 7.51 per barrel during the previous quarter.

Related news:

Hot News

isis-killer-beheading-video-story-top Oil slides after OPEC fails to do more; sterling drops on polls
May 27, 2017 - 04:38
Tokyo's Nikkei ended 0.6 percent down, while Hong Kong slipped 0.1 percent in the afternoon and Sydney finished 0.7 percent off. US crude prices were flat at $48.88 early on Friday, after losing 4.8 percent overnight, set to end the week 2.8 percent lower.

isis-killer-beheading-video-story-top Ariana Grande Cancels Upcoming Shows After Manchester Attack
May 27, 2017 - 04:36
Greater Manchester Police say two men were arrested overnight in Manchester and in the Withington area in the south of the city. Police also raided and searched a property elsewhere in Manchester where Abedi's brother Ismail is thought to have lived.

isis-killer-beheading-video-story-top Victor Moses credits Chelsea boss Antonio Conte with resurrecting career
May 27, 2017 - 04:35
It is the issue that has divided Arsenal supporters for months, with many vociferously calling for him to end his 21-year stint. We are a little bit in our bubble, isolated. "I was in Paris on the night when (terror attacks) happened on November 13, 2015".

isis-killer-beheading-video-story-top New Ford CEO Streamlining Hierarchy, Hastening Decision-Making
May 26, 2017 - 08:12
Steven Armstrong is appointed group vice president and president, Europe, Middle East & Africa , succeeding Jim Farley . Ford said it hired Sherif Marakby as its new vice president in charge of its autonomous and electric vehicle efforts.

Lue: Cavaliers' Kyrie Irving feeling 'good' after Game 4 ankle injury
May 26, 2017 - 08:12
Recall Games 5 and 7 of the Wizards series . "We need to hit adversity in order to grow", Irving said. "So we got back together". For Boston , guard Avery Bradley was the only player to get anything going, with most of his 23 points coming in the first half.

Analysts Set United Utilities Group PLC (UU) Target Price at $987.50
May 26, 2017 - 08:11
The Firm operates through three divisions: Wyndham Hotel Group, Wyndham Destination Network and Wyndham Vacation Ownership. Numis Securities's target price suggests a potential upside of 0.93% from the company's last stock close price.

isis-killer-beheading-video-story-top US vows further action against Venezuela's 'bad actors' barring changes
May 26, 2017 - 08:10
But Trump's repeated criticisms of the troubled South American nation appear to have struck a nerve. The opposition leader stressed the passport was valid until 2020. (AP Photo/Ariana Cubillos).

Senate leaders await analysis of GOP health bill
May 26, 2017 - 08:10
Trump has suggested the IRS won't enforce penalties against people who don't buy coverage, as Obama's individual mandate requires. The new estimates could give talking points to House Republicans, or to Democrats , who voted unanimously against that bill.

isis-killer-beheading-video-story-top North Korea missile test is huge step forward
May 25, 2017 - 01:41
It flew 435 miles but took 30 minutes to do so - meaning that it would have reached an apogee of about 1,240 miles, Wright said. The Security Council has approved six increasingly tougher sanctions resolutions following its nuclear and missile tests.

Tom Cruise says 'The Mummy' will be 'full of adventure'
May 25, 2017 - 01:38
He said: "I wanted to do it because I wanted to experience it". "I don't know.I really don't know I don't get it". I was six years old and banging on the door and then going in and sleeping on the floor of their room.

3 more arrested in Manchester; attacker's Libya ties probed
May 25, 2017 - 01:36
In London, public tours of the parliament complex and the changing of guard ceremony in Buckingham Palace have been cancelled. Many of them had serious wounds that will require "very long term care and support in terms of their recovery", Rouse said.

Mitchell: Trump Trip Being Received 'Very, Very Well' in Middle East
May 24, 2017 - 04:10
Trump on Tuesday also visited the Holocaust memorial Yad Vashem, where he and first lady Melania Trump laid a wreath in honor of concentration camp victims.

Are Analysts Bullish about QUALCOMM, Inc
May 24, 2017 - 04:05
If you are reading this story on another domain, it was illegally copied and reposted in violation of USA & global copyright law. They just need to take the company's market capitalization and divide it by the company's total sales over the past 12 months.

National Football League relaxes TD celebration rules, approves 10-minute overtime
May 24, 2017 - 04:02
Last season the league adjusted the rule as well, not requiring the teams to identify the player designated to return in advance. The owners have done way with the interim step of cutting down the roster to 75 men after the third preseason game.

isis-killer-beheading-video-story-top The Supreme Court's Gerrymandered Ruling
May 23, 2017 - 10:55
Leaders in the General Assembly issued a statement Monday in which they said they would continue to push for voter ID laws . Reverend William Barber, the president of the North Carolina NAACP - who is leaving that post shortly to revive Dr.