HPCL posts 13-fold Q4 net profit growth

State-owned Hindustan Petroleum Corporation has reported a 13-fold growth in net profit at Rs 5,104 crore for the fourth quarter ended March 31, 2009.

State-owned Hindustan Petroleum Corporation has reported a 13-fold growth in net profit at Rs 5,104 crore for the fourth quarter ended March 31, 2009.

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The state-run refining and marketing company had a net profit of Rs 384.5 crore in the March quarter of FY’08, HPCL said in a statement.

The total income of the company declined 16.9 per cent to Rs 24,875 crore during the fourth quarter, from Rs 29,936 crore in the corresponding period a year-ago.

The gross refining margin for the financial year ended March 31, stood at $3.97 per barrel, against $6.54 a barrel in the year-ago period.

For the financial year ended March 31, HPCL posted a net profit of Rs 575 crore, a 49.3 per cent decline over the year-ago period. The company had a net profit of Rs 1,134.88 crore in FY'08. Total income rose 12.13 per cent to Rs 1,16,427.83 crore during the fiscal ended March 31, from Rs 1,03,837.43 crore in the previous fiscal.

Shares of HPCL closed at Rs 349.40, down 3.12 per cent on the BSE.