Hindustan Petroleum Corporation Ltd. (HPCL) reported its fourth quarter net profit surged to ₹3,018 crore compared with ₹27 crore in the year-earlier period. Gross sales for January-March ’21 was ₹84,905 crore compared with ₹71,268 crore in the same period last year.
“The enhanced profitability was a result of robust operational performance, improvement in refinery margins helped by inventory gains and favorable exchange rate variations,” HPCL said in a filing. For FY21, HPCL recorded a net profit of ₹10,664 crore compared with ₹2,637 crore for the previous year. Gross sales for FY21 were lower at ₹2,69,243 crore compared with ₹2,86,250 crore in the previous year.