Hindustan Petroleum Corporation (HPCL) shares surged more than 4 per cent on Friday after the state-run company posted a massive jump in net profit for the fourth quarter ended March 31, 2021. The company posted a net profit of Rs 3,017.96 crore in March 2021 as against Rs 26.80 crore in March 2020, Hindustan Petroleum Corporation said in a filing to the stock exchanges. At 12:50 am, HPCL shares were trading at Rs 278.40, higher by 4.4 per cent, on the BSE.
Meanwhile, HPCL reported a net profit of Rs 10,663.9 crore on a standalone basis for the fiscal ended March 31, which is 304 per cent higher than the profit posted a year ago.
The BSE Sensex and NSE Nifty were trading higher by 1.31 per cent at the time.