HPCL first quarter net profit is seen rising significantly to Rs 1,050 crore compared to Rs 46 crore in the year-ago period, according to average of estimates of analysts polled by CNBC-TV18. Operating profit (earnings before interest, tax, depreciation and amortisation) may jump to Rs 2,100 crore in June quarter against Rs 590 crore in the corresponding quarter of last fiscal. Lower petrol and diesel prices may pull revenue lower year-on-year but the company now makes significant margins on both these products. Even there are no subsidy losses on LPG as it has moved to direct benefit transfer and people have been giving up LPG subsidy. Analysts expect refining margin at USD 6.6 a barrel against USD 2 a barrel year-on-year. The company is expected to report a forex loss of Rs 200 crore against forex gain of Rs 284 crore during the same period. The stock rallied 77 percent in 2015 as Q1 is expected to be one of the best ever quarters without any support from upstream companies and government.
Source:- Moneycontrol.
Source:- Moneycontrol.
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