Hindustan Oil Exploration Company swung to a profit for the quarter ended December 2015. During the quarter, the company reported a profit of Rs 42.64 million compared with a loss of Rs 1,180.08 million in the same quarter previous year.
Revenues for the quarter declined 30.09% to Rs 67.18 million, compared with Rs 96.10 million for the prior year period.
Total expenses as a percent of revenues decreased to 89.34 percent from 238.53 percent in the same period last year. This has led to an improvement of 14919 basis points in operating margin to 10.66 percent.
Operating margin for the quarter stood at positive 138.53 percent as compared to a negative 138.53 percent for the previous year period. Operating Income for the quarter was Rs 7.16 million, compared with an operating loss of Rs 133.12 million in the previous year period.
Earnings per share for the quarter stood at Rs 0.33, registering 96.35% decline over previous year period.
| Quarterly Results - Standalone (Rs in mn) |
| As at | Dec - 15 | Dec - 14 | %Change |
| Revenues | 67.18 | 96.10 | (30.09) |
| Net Profit | 42.64 | (1,180.08) | - |
| Diluted EPS | 0.33 | 9.04 | (96.35) |
Shares of the company declined Rs 1.5, or 4.97%, to settle at Rs 28.70. The total volume of shares traded was 156,048 at the BSE (Monday).
