PSU Watch logo

| EV owners can now charge vehicles using existing electricity connections |   | ICRA suggests long-term finance at low rates for power, renewables in Budget |   | GAIL’s Director (Marketing) ES Ranganathan arrested by CBI in corruption case |   | CAIT urges Centre to exempt GST registration for e-commerce sales |   | Indian Oil to invest Rs 7,000 cr in city gas distribution projects |  

HPCL shares rise 4.05% as Nifty gains

HPCL shares gained 4.05 percent, a day after the oil marketing company reported a 7.2 percent rise in standalone net profit in Q2 of FY22
HPCL shares rise 4.05% as Nifty gains
HPCL shares rise 4.05% as Nifty gains
  • HPCL shares had closed at Rs 303.45 on November 2
  • On Wednesday, the shares opened at Rs 304.85 and touched an intra-day high of Rs 315.75

New Delhi: State-run Hindustan Petroleum Corporation Ltd’s (HPCL) shares gained 4.05 percent in Wednesday’s trade, a day after the oil marketing company reported a 7.2 percent rise in standalone net profit in Q2 of FY22. HPCL shares had closed at Rs 303.45 on November 2. However, on Wednesday, the shares opened at Rs 304.85 and touched an intra-day high of Rs 315.75. The stock quoted a 52-week high of Rs 339.70 and a 52-week low of Rs 181.20.

The total market capital of HPCL stood at Rs 44,251.62 crore at the time of filing this report, according to the BSE data. 

HPCL posted net profit of Rs 1,923.51 crore in Q2 FY22

HPCL reported a 7.2 percent rise in Q2 standalone net profit at Rs 1,923.51 crore. The oil retailer had posted a net profit of Rs 1,795 crore in the previous quarter. The company’s total income was up 12.94 percent at Rs 88,049.79 crore against Rs 77,957.51 crore quarter-on-quarter.

ALSO READ

Earnings before interest, tax, depreciation and amortisation (EBITDA) were down 5.6 percent at Rs 3,012.2 crore from Rs 3,191.4 crore in the June quarter. Its margin was down at 3.6 percent against 4.4 percent quarter-on-quarter. HPCL’s net worth depreciated by around Rs 1,000 crore quarter-on-quarter at Rs 36,097.15 crore. 

HPCL’s consolidated net profit decreased by 4.24 percent in Q2 FY22 at Rs 1,918.89 crore, down from Rs 2,003.90 crore reported in the June quarter. On year-on-year basis, the decline in September quarter’s net profit was 35.52 percent. HPCL had reported a net profit of Rs 2,975.83 crore in the corresponding quarter of the previous financial year.

(PSU Watch- India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)