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Hindustan Petroleum shares gain 6% on robust Q3 profit

Hindustan Petroleum (HPCL) shares climbed nearly 6 per cent after the company swung back into black with a Rs 1,042.26 crore profit for the December quarter.

HPCL shares gain 6% on robust Q3 profit

Hindustan Petroleum (HPCL) shares climbed nearly 6 per cent after the company swung back into black with a Rs 1,042.26 crore profit for the December quarter.

HPCL's scrip rose 5.74 per cent to end at Rs 728.35 on BSE. Intra-day, it gained 9 per cent to Rs 750.80.

On NSE, shares of the company went up 5.66 per cent to close at Rs 728.60.

Led by the rise in the stock, the company's market capitalisation (m-cap) moved up by Rs 1,339.92 crore to Rs 24,663.92 crore.

Despite a Rs 1,200 crore inventory loss due to a steep fall in global crude prices, Hindustan Petroleum (HPCL) on Friday swung back into black with a Rs 1,042.26 crore profit for the December quarter.

The company had reported a net loss of Rs 325.38 crore in the year-ago period.

Meanwhile in the broader market, the Sensex zoomed 568 points or 2.47 per cent to end at 23,554.12.

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