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HPCL profit zooms to ₹3,018 crore in Q4 - The Hindu BusinessLine


HPCL profit zooms to ₹3,018 crore in Q4
May 20, 2021
MK Surana, CMD, HPCL   -  The Hindu×
Gross sales were at ₹84,904.75 crore
Hindustan Petroleum Corporation Ltd (HPCL) reported a net profit of ₹3,017.96 crore during the January to March quarter, an increase of over 400 per cent from ₹26.80 crore a year ago.
The company’s gross sales for the fourth quarter were at ₹84,904.75 crore (₹71,268.14 crore).
For the full year, HPCL reported a net profit of ₹10,663.88 crore (₹2,637.26 crore).
Gross sales for FY21 were at ₹2,69,242.86 crore (₹2,86,250.27 crore)
HPCL has proposed a final dividend of ₹22.75 per share for FY21.
“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, MK Surana, said at a media conference on Thursday. ....

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Indian refiners set to curb spot buying to make room for Iranian oil


NEW DELHI: Indian refiners, anticipating a lifting of US sanctions, plan to make space for the resumption of Iranian imports by reducing spot crude oil purchases in the second half of the year, company officials told Reuters.
The world s third largest oil consumer and importer halted imports from Tehran in 2019 after former US President Donald Trump withdrew from a 2015 accord and re-imposed sanctions on the OPEC producer over its disputed nuclear programme.
US President Joe Biden s administration and Iran have been involved in indirect talks to revive the pact for Tehran to curb its nuclear activities in exchange for a lifting of sanctions. ....

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Assam: Workers of Defunct Paper Mills Pin Hopes of Survival to Himanta's Ties With Amit Shah


Assam: Workers of Defunct Paper Mills Pin Hopes of Survival to Himanta s Ties With Amit Shah
Over 1,200 workers feel they have been betrayed by Sarbananda Sonowal, who promised that the mills would reopen.
The main gate of Nagaon Paper Mill. Photo: Gaurav Das
Rights16 hours ago
Guwahati: Members of an umbrella body of workers’ unions in Assam have pinned their hopes on state health minister Himanta Biswa Sarma becoming the next chief minister, instead of Sarbananda Sonowal’s return to the post. The reasons range from unkept promises to basic survival.
The Joint Action Committee of Recognised Unions (JACRU), the union body of the now-defunct Nagaon and Cachar paper mills, feels that Sonowal has betrayed them after promising that two mills will be reopened. ....

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