State-run Hindustan Petroleum (HPCL) is likely to post 42.7 percent year-on-year jump in March quarter profit to Rs 6612 crore on higher refining margins and lower under-recovery due to diesel decontrol and lower LPG (liquefied petroleum gas) subsidy.
Sales are also expected to climb around 4.4 percent to Rs 54,774 crore, estimates a CNBC-TV18 poll. Read This:Near-term top pick HPCL; long-term BPCL: Quant CapitalFactors to watch - Gross refining margins (GRMs) seen at USD3.8/bbl vs USD1.9/bbl quarter-on- quarter - GRM uptick due to recovery in both diesel and gasoline cracks. - GRMs in Q3 were weak due to stabilisation issues - Q4 gross under-recovery was down 5 percent QoQ due to the impact of diesel reforms and lower LPG subsidies. - 9MFY13, loss stood at Rs 6,770 crore as the company had to bear a net under-recovery of Rs 5,500 crore
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