HPCL Q4FY18 result misses estimates, net profit declines Rs 1,748 cr; dividend declared

State-owned Hindustan Petroleum Corp Limited (HPCL) fourth quarter ended March 2018 result was a mixed bag as the company missed analysts estimate in bottom-line but surpassed prediction in top-line. HPCL posted net profit of Rs 1,747.89 crore in Q4FY18 declining by 3.90% compared to Rs 1,818.79 crore in the corresponding period of previous year. Q4FY18 net profit also down by 10.35% from Rs 1,949.69 crore in the preceding quarter. 

On the other hand, revenue from operation stood at Rs 66,350.88 crore which rose by 13.10% compared to Rs 58,668.17 crore a year ago same period. Also revenue was up by 5.60% from Rs 62,831.71 crore of preceding quarter. 

A Bloomberg poll of analysts expected net profit and revenue to come in at Rs 1,760 crore and Rs 59,000 crore respectively in Q4FY18. 

For FY18, revenue stood at Rs 2,43,226.66 crore higher by 13.93% from Rs 2,13,488.95 crore in FY17. Whereas net income was at Rs 6,357.07 crore gradually above 2.39% from Rs 6,208.80 crore in FY17. 

The Board of the company has also recommended Final Equity Dividend of RS.2.501- per Equity share of face value of RS.10 each, for the Financial Year 2017-2018 for the consideration and approval of the shareholders at the ensuing Annual General Meeting. In compliance of Regulation 42, the Board has also fixed July 02, 2018 to July 06, 2018.

The share price of HPCL finished at RS 312.10 per piece down by 0.35%. Overall in a day, the shares have tumble by more than 3%.