HPCL Q1 results: Net profit increased to Rs. 2,813.80 crores for FY21
HPCL Q1 results: Hindustan Petroleum Corporation Limited (HPCL) is an Indian oil and natural gas company located in Mumbai, Maharashtra. The company has almost 25% stakes in all public sector undertakings (PSUs) and strong marketing infrastructure. The company provides services in Petroleum, Natural Gas, LNG, Lubricants, and Petrochemicals.
Meanwhile, the company on Friday, August 7th reported its Q1 results for FY21. Whereas, the shares of the Oil & Gas company plunged almost 2% in the stock market after its Q1FY21. Whereas, the company reported its standalone net profit increased to Rs. 2,813.80 crores in this quarter ended on June 30th. While the company also posted its net profit of Rs. 811.00 crores in the same quarter last financial year. The main reason for this is due to the strong operating income.
Besides, the company’s total revenue from operations decreased by 43% to Rs. 37,721.00 crores in Q1FY21. While the company also posted its total revenue of Rs. 66,154.90 crores in the same period last fiscal year.
“The COVID-19 pandemic is globally inflicting high economic and human costs causing a slowdown of economic activity. Specific to the corporation, it did have an impact on the sales in the months of April and May 2020, though substantial recovery is seen in June 2020,” said HPCL.
On the other side, the scrip touched its intraday high at Rs. 224.90 and intraday low at Rs. 218.40 in the stock market. The stock traded with almost 5,46,946 equity shares on the NSE stock market.
However, the shares of HPCL on Friday reported a bearish trend in the stock market. The company lost 2.70 points with a 1.25% decrease and reached 213.40 INR. While in BSE, the company lost 2.65 points with a 1.23% decrease and reached 213.55 INR.
Stock Market August 7th:
On Friday, both Sensex and Nifty continues its bullish trend in the stock market from the last three sessions. The Sensex is trading above 38,000 levels and Nifty is trading below 11,200 levels in the stock market. The Sensex gained 15.12 points with a 0.040% increase and reached a 38,040.57 level. While Nifty gained 13.90 points with a 0.12% increase and reached 11,214.05 level.
On the other side, the number of coronavirus cases in India reached 20,88,611 as of Saturday, August 8th, and deaths reached 42,518.
In the border market, the S&P BSE SmallCap reported a bullish trend in the stock market on Friday. It gained 106.46 points with a 0.78% increase and reached a 13,668.69 level. The S&P BSE MidCap gained 202.02 points with a 1.44% increase and reached a 14,218.87 level. While Nifty Bank gained 111.40 points with a 0.51% increase and reached 21,754.00 level.
Top Gainers on August 7th: Asian Paints, Bajaj Finance, UPL, IndusInd Bank, and Bajaj Finserv are the top gainers in today’s stock market.
Top Losers on August 7th: Titan Company, HCL Technologies, Infosys, M&M, and Sun Pharma are the top losers in today’s stock market.