May 26, 2017 / 9:26 AM / 2 months ago

Hindustan Petroleum March-quarter profit beats estimates

1 Min Read

A worker walks inside the complex of Guru Gobind Singh oil refinery near Bhatinda in Punjab April 27, 2012.Ajay Verma/Files

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

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