Profit Surge Followed by Dip: HPCL Shares React to Quarterly Earnings

Hindustan Petroleum Corporation Ltd's shares saw a dip of nearly 3% as profit-taking emerged, despite a 5% climb earlier when the company reported a significant rise in its December quarter net profit. The stock's fluctuations were reflected in both BSE and NSE trading volumes.

On Friday, Hindustan Petroleum Corporation Ltd (HPCL) shares ended nearly 3% lower, closing at Rs 352.70 on the BSE. This came as investors engaged in profit-taking.

Earlier in the day, the stock soared almost 5%, hitting Rs 380, after HPCL announced a significant increase in its December quarter profit due to soaring marketing margins.

Despite the dip at the close, the stock's morning surge was fueled by a tripling of net profit to Rs 2,543.65 crore for the quarter, up from Rs 712.84 crore year-over-year, as per the company's filing.

(With inputs from agencies.)