HPCL board members also approved expansion of Vizag refinery to 300,000 barrels per day at an investment of Rs20,928 crore. Photo: MintMumbai: Hindustan Petroleum Corp. Ltd (HPCL) on Monday reported a 30% increase in net profit to Rs.2,098.38 crore for the fiscal first quarter. The company’s net profit rose from Rs.1,614.13 crore in the year-ago period. During the quarter, net revenue fell 5.7% to Rs.51,661.04 crore from Rs.54,822 crore in the same quarter last year. The HPCL board recommended issue of bonus shares in the ratio of two shares for every one share held.

Source: Mint August 22, 2016 17:15 UTC