HPCL profit down 28% to ₹1,553 crore
State-owned oil firm Hindustan Petroleum (HPCL) on Friday reported a 28% year-on-year fall in net profit for the quarter ended March to ₹1,553 crore. Net sales fell 5.44% to ₹42,126 crore. For the entire fiscal 2015-16, the net profit rose 41.32% to ₹3,862 crore. Following the announcement, shares of the company rose 8.90% reportedly owing to better-than-expected results. 