State-owned oil retailer Hindustan Petroleum Corporation (HPCL) on January 31 reported a consolidated net profit of Rs 1,353 crore for the quarter ended December 2021, down 43 percent against Rs 2,373.71 crore recorded in the corresponding period of the last fiscal.
Consolidated revenue for the quarter at Rs 1,03,488.75 crore grew by 33.56 percent, compared to Rs 77,482.85 crore reported in the year-ago period.
On a standalone basis, HPCL said it reported profit of Rs 868.86 crore for December 2021 quarter, down by 63.1 percent against Rs 2,354.64 crore posted in the same quarter previous fiscal.
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Standalone revenue during the quarter came in at Rs 1,03,422.37 crore, up 33.6 percent compared to Rs 77,412.68 crore recorded in Q3FY21.
Average gross refining margin during the nine months ended December 31, 2021 was $4.50 per barrel, up sharply against $2.35 per barrel recorded during the corresponding nine months of the preceding financial year, said HPCL.
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The stock closed at Rs 314 on the BSE, with third of a percent gains on Monday.
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