REUTERS - State-run oil marketing company Hindustan Petroleum Corp Ltd (HPCL.NS) reported a 31 percent jump in March-quarter net profit on Friday, beating street estimates, as income from operations grew.
Net profit rose to 18.19 billion rupees ($282.12 million) in the fourth quarter ended March, from 13.88 billion rupees a year earlier, the company said in a statement. bit.ly/2qqp7NB
Total income from operations climbed 21.7 percent to 591.83 billion rupees.
Analysts on average expected a profit of 12.17 billion rupees for the quarter, according to Thomson Reuters data.
HPCL shares surged 10 percent after the results.
($1 = 64.4750 Indian rupees)
Reporting By Arnab Paul in Bengaluru; Editing by Gopakumar Warrier