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A possible effect of inventory gains is likely to push up September quarter earnings for Hindustan Petroleum Corporation (HPCL).
Analysts polled by CNBC-TV18 believe that the company could report a net profit of Rs 1,967 crore against Rs 925 crore posted during the previous quarter, while revenue could dip to Rs 53,879 crore against Rs 59,975 crore.
At the operating level, the earnings before interest, taxes, depreciation and amortisation (EBITDA) is seen at Rs 3,345 crore against Rs 1,628 crore. Meanwhile, the operating margin is seen at 6.2 percent against 3.04 percent in the previous quarter.
Investors could also watch out for the gross refining margins (GRMs) as the figure declared by Indian Oil disappointed the Street. It is expected to be around USD 8.8 per barrel against Q1’s reported figure of USD 5.86 per barrel.
The company reported a 49.2 percent decline in its Q1 (April-June) net profit at Rs 925 crore compared with Rs 1819 crore in previous quarter.
Revenue increased 2 percent to Rs 59,975 crore in June quarter compared with Rs 58,779 crore in March quarter of FY17.
Gross refining margin (GRM) during the quarter stood at USD 5.86 a barrel, which was ahead of analysts estimates of USD 4.9 a barrel.
At the close of market hours on Tuesday, Hindustan Petroleum Corporation was quoting at Rs 435.30, down Rs 9.15, or 2.06 percent, on the BSE.
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