Hindustan Petroleum March-quarter profit beats estimates, Shares soar 13%


Shares of state-run oil marketing organization Hindustan Petroleum Corp jumped as much as 13% on Friday after it reported a 31% jump in March-quarter net profit on Friday, beating street estimates.

Net profit rose to Rs. 1,819 crore in the fourth quarter ended March, from Rs. 1,388 crore a year prior, the organization said in an announcement.

Total income from operations climbed 21.7% to Rs. 59,183 crore.

Analysts on average expected a profit of Rs. 1,217 crore for the quarter, as per Thomson Reuters data.

HPCL shares shut 11.55% higher at Rs. 567.60 on Friday.