Hindustan Petroleum Corp's profit rose 22.6 per cent in the third quarter, beating estimates. Profit rose to Rs 1,950 crore ($303.05 million), compared with Rs 1,590 crore a year earlier. Analysts on average had expected a profit of Rs 1,550 crore, according to Thomson Reuters data.
Income from operations rose over 13 per cent to Rs 62,832 crore. The country's biggest explorer, Oil and Natural Gas Corp (ONGC), last month agreed to buy the government's majority stake in HPCL for Rs 36,900 crore.