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New Delhi, May 26
Diversified firm ITC today reported 12.13% increase in standalone net profit to Rs 2,669.47 crore for the fourth quarter of 2016-17.
The company had posted a net profit of Rs 2,380.68 crore for the January-March quarter of last fiscal, ITC said in a BSE filing.
ITC’s net sales during the period under review was up 6.15% to Rs 15,008.82 crore as against Rs 14,138.78 crore for the corresponding quarter last fiscal.
HPCL profit jumps 31%
Hindustan Petroleum Corp Ltd (HPCL) today reported 31% jump in the March quarter net profit on higher refining margins and inventory gains.
HPCL, which had in 2016-17 issued bonus shares in the ratio of 2:1, also announced a bonus issue of one equity share of Rs 10 each for every two equity shares held.
Net profit in the January-March quarter of last fiscal was Rs 1,818.79 crore (Rs 17.90 per share), 31% higher than Rs 1,387.91 crore (Rs 13.66 a share), in the same quarter of the previous fiscal, 2015-16, HPCL Chairman and Managing Director Mukesh Kumar Surana said. “Profit was higher as a result of better operating efficiencies, higher sales and inventory gains,” he said. — PTI
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