Hindustan Oil Q3 net profit at Rs.4.26 cr; sales dips 30.2%

The company's sales decreased by 30.2% to Rs. 6.71 crore for the quarter against Rs.9.61 crore in the corresponding quarter of the previous year.

Hindustan Oil Exploration Company Ltd reported its Q3 net profit at Rs.4.26 crore. The company had reported a net profit of Rs.118 crore for the corresponding quarter last year, it  said in a filing to the BSE.

The company's sales decreased by 30.2% to Rs. 6.71 crore for the quarter against Rs.9.61 crore in the corresponding quarter of the previous year.

Stock Commentary:

Hindustan Oil Exploration Company Ltd ended at Rs. 28.7, down by Rs. 1.5 or 4.97% from its previous closing of Rs. 30.2 on the BSE.

The scrip opened at Rs. 30.35 and touched a high and low of Rs. 30.45 and Rs. 28.5 respectively. A total of 475496(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 374.51 crore.

The BSE group 'B' stock of face value Rs. 10 touched a 52 week high of Rs. 54.5 on 25-Feb-2015 and a 52 week low of Rs. 28.65 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 34.3 and Rs. 30 respectively.

The promoters holding in the company stood at 47.18 % while Institutions and Non-Institutions held 2.61 % and 50.21 % respectively.

The stock traded above its 200 DMA.