HPCL Q3 Results: PAT slumps 90% sequentially to Rs 529 crore; stock tanks 6%
economictimes.indiatimes.comHindustan Petroleum Corporation on Thursday said its net profit for the quarter ended December tripled year-on-year (YoY) to Rs 529 crore. Sequentially, however, the bottomline slumped by nearly 90%.
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Revenue from operations, net of excise duty, rose a moderate 2% YoY to Rs 1.11 lakh crore. However, it grew by more than 16% sequentially.
Following the Q3 earnings presentation, the stock declined over 6.5% to Rs 422 on BSE.
The board has recommended an interim dividend of Rs 15 a share and fixed February 7 as the record date to determine eligible shareholders for the same. The interim dividend would be paid to eligible shareholders on or before February 23, HPCL said.
Total expenses, including excise duty and finance cost, rose to Rs 1.18 lakh crore from Rs 1.16 lakh crore a year ago, and Rs 96,221 crore a quarter ago.
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