Oil marketing companies such as Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation share gained as much as 10 per cent on Monday after they reported robust earnings figures for the quarter ended December 2015.
Shares of Indian Oil Corporation (IOC) surged as much as 10 per cent after the oil marketing company reported 215.93 per cent rise in net profit figures for the quarter ended December 2015. The company reported net profit of Rs 3,056.86 crore in October-December 2015 against net loss of Rs 2,636.80 crore in the same quarter last year.
Hindustan Petroleum Corporation (HPCL) shares gained 9 per cent after the company reported Rs 1,042.26 crore net profit in the quarter ended December 2015 against net loss of Rs 325.38 crore in the same quarter last year.
Bharat Petroleum Corporation (BPCL) shares gained nearly 5 per cent in the morning trade after the comany 170 per cent rise in its net profit figures to Rs 1488.60 crore for the quarter ended December 2015 against Rs 551.16 crore in the same quarter last year.
Shares of IOC, BPCL and HPCL closed 6.55 per cent up at Rs 388.55, 1.34 per cent up at Rs 781.45 and 5.74 per cent up at Rs 728.35, respectively.