HPCL shares pare early gains; decline nearly 3 pc

New Delhi, Jan 24 (PTI) Shares of Hindustan Petroleum Corporation Ltd (HPCL) on Friday ended nearly 3 per cent lower amid the emergence of profit-taking.

During the morning trade, the stock climbed nearly 5 per cent after the firm reported more than tripling of its December quarter net profit as marketing margins soared.

The stock ended 2.62 per cent lower at Rs 352.70 on the BSE. Intra-day, it jumped 4.91 per cent to Rs 380.

At the NSE, shares of the firm went lower by 2.72 per cent to Rs 352.25 after surging 4.92 per cent to Rs 379.95 during the session.

In traded volume terms, 8.64 lakh shares of the firm were traded on the BSE and 180.88 lakh shares on the NSE. Its consolidated net profit for the third quarter (October-December 2024) of FY25 stood at Rs 2,543.65 crore, a rise from Rs 712.84 crore during the same period last year, according to a stock exchange filing of the company.

The profit was also up quarter-on-quarter when compared to Rs 142.67 crore in July-September 2024.

The company's pre-tax earnings from the downstream fuel retailing business jumped to Rs 4,566.07 crore in the third quarter from Rs 981.02 crore a year back and Rs 1,285.96 crore in the preceding quarter.

Its income from operations was almost unchanged at Rs 1.18 lakh crore, according to the HPCL filing. PTI SUM SUM BAL BAL