By IANS,
Mumbai : State-run oil refining and marketing major Hindustan Petroleum Co Ltd (HPCL) Tuesday reported 44.5 percent fall in consolidated net profit for 2008-09 at Rs.757.32 crore, down from Rs.1,364.1 crore recorded the year before.
However, the overall turnover during the period marked an increase of 16.5 percent at Rs.129,978.82 crore, comparing to Rs.111,603.58 crore in 2007-08.
In the fourth quarter, HPCL’s profit shot up to Rs.5,104.04 crore from Rs.384.51 crore in January-March 2008 on the back of a 36.6 percent decline in expenditure.
Total expenditure during the quarter stood at Rs.19,971.25 crore as against Rs.31,510.58 crore in the like period of 2008.
The company board has recommended a final dividend of Rs.5.25 per equity share.