ITC Q4 net profit up 12% to Rs 2,669 cr

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