Hindustan Petroleum Corp Ltd Q4 net jumps 70 per cent on inventory gains

New Delhi: Hindustan Petroleum Corp Ltd (HPCL) on Monday reported a 70 per cent jump in its fourth-quarter net profit as inventory gains and rupee appreciation negated a dip in refinery margins. Net profit in January-March came at Rs 2,970 crore against Rs 1,748 crore in the same period a year back, HPCL Chairman and Managing Director M K Surana told reporters here.

“Increase in profits is mainly attributable to increased sales, improved logistics, efficiency, inventory gains and rupee appreciation during Q4 of the financial year ending March 31, 2019,” he said. HPCL had an inventory gain of Rs 916 crore as the value of stock it held rose due to international price movement.

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