HPCL Q4 Review - Best Placed For Sector Upturn: Prabhudas Lilladher
May 22 2021, 12:03 AM
May 22 2021, 12:03 AM
May 22 2021, 12:03 AM
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BQ Blueâs special research section collates quality and in-depth equity and economy research reports from across Indiaâs top brokerages, asset managers and research agencies. These reports offer BloombergQuintâs subscribers an opportunity to expand their understanding of companies, sectors and the economy.
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Oil and Gas stocks were trading with losses, with the S&P BSE Oil&Gas index falling 174.35 points or 1.09% at 15766.62 at 13:49 IST. Among the components of the S&P BSE Oil&Gas index, GAIL (India) Ltd (down 3.24%), Petronet LNG Ltd (down 2.07%),Oil & Natural Gas Corpn Ltd (down 2%),Hindustan Petroleum Corporation Ltd (down 1.93%),Indraprastha Gas Ltd (down 1.88%), were the top losers. Among the other losers were Indian Oil Corporation Ltd (down 1.77%), and Gujarat State Petronet Ltd (down 0.42%). On the other hand, Bharat Petroleum Corporation Ltd (up 1.47%), Castrol India Ltd (up 0.04%), and Reliance Industries Ltd (up 0.03%) moved up.
At 13:49 IST, the S&P BSE Sensex was down 28.81 or 0.06% at 49873.83.
The company had a net profit of Rs 27 crore in January-March 2020. Enhanced profitability was a result of robust operational performance, improvement in refinery margins helped by inventory gains and favourable exchange rate variations, HPCL Chairman and Managing Director M K Surana told reporters. The company, which runs refineries at Mumbai and Visakhapatnam, earned USD 8.11 on turning every barrel of crude oil into fuel in January-March period. This is compared with a negative gross refining margin (GRM) of USD 1.23 per barrel. Inventory gains are booked when raw material (crude) prices rise by the time a company processes oil into fuel. Losses are booked when the reverse happens.