Hindustan Petroleum Q4 Profit Beats Estimates, Shares Soar 13%

Shares of state-run oil marketing company Hindustan Petroleum Corp jumped as much as 13 per cent on Friday after it reported a 31 per cent jump in March-quarter net profit on Friday, beating street estimates.

Net profit rose to Rs. 1,819 crore in the fourth quarter ended March, from Rs. 1,388 crore a year earlier, the company said in a statement.

Total income from operations climbed 21.7 per cent to Rs. 59,183 crore.

Analysts on average expected a profit of Rs. 1,217 crore for the quarter, according to Thomson Reuters data.

HPCL shares closed 11.55 per cent higher at Rs. 567.60 on Friday.

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