State-owned refiner Hindustan Petroleum (HPCL)’s profit after tax in the second quarter rose twenty-seven fold on a year-over-year basis to ₹3,859 crore, aided by better refining margins and a lower base. Net profit for the second quarter of last fiscal stood at ₹142.67 crore.
Revenue from operations also increased about 2 per cent during the same period to more than ₹1.09 lakh crore.
Gross refining margins more than doubled to $8.80 for every barrel in the second quarter from the corresponding period last year.
In the September-end quarter this year, the refiner’s crude through put accelerated 4.3 per cent to 6.57 MMT from the corresponding period last year.
HPCL’s Aviation business recorded a growth of 6.1 per cent during the quarter as against industry degrowth of 2 per cent, the company said in a statement.
HPCL also announced an interim dividend of ₹5 for each equity share. It would be payable to eligible shareholders by November 27. HPCL’s scrip ended 3.53 per cent higher at ₹468.35 apiece on the BSE.
