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Hindustan Petroleum Corporation Ltd has reported a ₹1747.89-crore net profit for the fourth quarter of the financial year 2017-2018. This is 3.8 per cent lower than the ₹1818.79-crore bottomline reported by the company in the corresponding quarter of the financial year 2016-2017.
In a statement to the exchanges, HPCL also recommended a final dividend of ₹2.50 per equity share of face value of ₹10 each.
The lower profit was despite a higher top line, with total income rising by 13 per cent ₹66,983.67 crore during the last quarter of the financial year 2017-2018. This stood at ₹59,183.68 crore during the corresponding quarter of the financial year 2016-2017.
For the full financial year, the company reported a 2.4 per cent rise in net profit. The bottomline for financial year 2017-2018 stood at ₹ 6,357.07 crore against ₹6,208.80 crore for the financial year 2016-2017.
The gross refinery margin, or the gain per barrel of crude oil processed, stood at $7.40 per barrel for the financial year 2017-2018. This was reported at $6.20 a barrel during the financial year 2016-2017.
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