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Hindustan Petroleum March-quarter profit beats estimates
May 26, 2017 / 9:26 AM / in 7 months

Hindustan Petroleum March-quarter profit beats estimates

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.

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

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.

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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