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HPCL's profit soars 507%: What helped the company
Business
HPCL just posted a huge win this quarter—its profit soared to ₹3,830 crore, up 507% from last year.
The big boost came from much better refining margins, which more than doubled to $8.80 per barrel.
Revenue also edged up past ₹1.10 lakh crore.
Interim dividend of ₹5 per share
To celebrate the strong results, HPCL is giving an interim dividend of ₹5 per share (to be paid by November 27).
The company's crude processing grew by 4.3%, while total sales were up nearly 4%.
Investors seem happy too—HPCL shares climbed over 3% after the news.