{"id":5224,"date":"2019-05-21T11:09:58","date_gmt":"2019-05-21T11:09:58","guid":{"rendered":"http:\/\/financeintellect.com\/home-page\/home\/?p=5224"},"modified":"2019-05-21T11:10:26","modified_gmt":"2019-05-21T11:10:26","slug":"hpcl-profit-up-70-at-%e2%82%b92969-92-crore-for-march-2019-quarter","status":"publish","type":"post","link":"https:\/\/financeintellect.com\/home-page\/home\/hpcl-profit-up-70-at-%e2%82%b92969-92-crore-for-march-2019-quarter\/","title":{"rendered":"HPCL profit up 70% at \u20b92,969.92 crore for March 2019 quarter"},"content":{"rendered":"<p style=\"text-align: justify;\">State-run Hindustan Petroleum Corporation Ltd (HPCL) reported a 70% rise in its net profit, helped by inventory gain and rupee appreciation that offset a dip in refinery margins.<\/p>\n<p style=\"text-align: justify;\">Net profit was at\u00a0<span class=\"webrupee\">\u20b9<\/span>2,969.92 crore during the fourth quarter of the fiscal year 2019 as against\u00a0<span class=\"webrupee\">\u20b9<\/span>1,747.89 during the corresponding period previous year, the company said in a filing to the BSE.<\/p>\n<p style=\"text-align: justify;\">Total income was at\u00a0<span class=\"webrupee\">\u20b9<\/span>73,672.50 crore for the quarter against\u00a0<span class=\"webrupee\">\u20b9<\/span>66,983.38 crore during the corresponding previous quarter.<\/p>\n<p style=\"text-align: justify;\">Various expenses for the fiscal year includes\u00a0<span class=\"webrupee\">\u20b9<\/span>578.92 crore towards loss on account of foreign currency transactions and translations. During the fiscal year 2018, the company achieved a gain of<span class=\"webrupee\">\u20b9<\/span>322.39 crore on account of foreign currency transactions.<\/p>\n<p style=\"text-align: justify;\">The company recorded an average gross refining margin of $5.01 per barrel against $7.40 per barrel in the corresponding previous year.<\/p>\n<p style=\"text-align: justify;\">The quarter also saw Singapore&#8217;s gross refining margins (GRMs) average at $3.2 per barrel for the fourth quarter, slipping 25% quarter-on-quarter due to a crash in light distillate cracks.<\/p>\n<p style=\"text-align: justify;\">Average Dated Brent price also dropped 7% quarter-on-quarter at $63.1 per barrel in Q4. However, toward the second half, prices paced because of Iranian\/Venezuelan sanctions and OPEC cuts, and between the quarter ends, closed $14 per barrel higher, implying inventory gains for refiners.<\/p>\n<p style=\"text-align: justify;\">The board recommended an interim dividend of\u00a0<span class=\"webrupee\">\u20b9<\/span>6.50 per equity share and a final dividend of\u00a0<span class=\"webrupee\">\u20b9<\/span>9.40 per equity share.<\/p>\n<p style=\"text-align: justify;\">HPCL&#8217;s scrip closed at\u00a0<span class=\"webrupee\">\u20b9<\/span>293.60 a piece, up 6.78% on the BSE.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>State-run Hindustan Petroleum Corporation Ltd (HPCL) reported a 70% rise in its net profit, helped by inventory gain and rupee appreciation that offset a dip in refinery margins. Net profit was at\u00a0\u20b92,969.92 crore during the fourth quarter of the fiscal year 2019 as against\u00a0\u20b91,747.89 during the corresponding period previous year, the company said in a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5225,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8],"tags":[37,3914,3345],"class_list":["post-5224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-india-inc","tag-bse","tag-hpcl","tag-opec"],"aioseo_notices":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>HPCL profit up 70% at \u20b92,969.92 crore for March 2019 quarter - Finance Intellect<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/financeintellect.com\/home-page\/home\/hpcl-profit-up-70-at-\u20b92969-92-crore-for-march-2019-quarter\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HPCL profit up 70% at \u20b92,969.92 crore for March 2019 quarter - Finance Intellect\" \/>\n<meta property=\"og:description\" content=\"State-run Hindustan Petroleum Corporation Ltd (HPCL) reported a 70% rise in its net profit, helped by inventory gain and rupee appreciation that offset a dip in refinery margins. 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