Hindustan Petroleum Corporation Limited (HPCL) saw a 1.15% increase in its share price, reaching Rs 356, following the announcement of Rajneesh Narang’s appointment as the new Chief Financial Officer (CFO). Narang, who will take on the role from March 27, 2025, replaces K. Vinod, who had been serving as the CFO since September 2024.
Rajneesh Narang, a seasoned finance expert and a chartered accountant, brings his extensive experience to the role. He has previously held the position of CFO at HPCL from March 2022 to September 2024 before K. Vinod took over. Narang currently serves as the company’s Director of Finance and has been instrumental in HPCL’s financial operations.
HPCL clarified that Rajneesh Narang has no familial ties to any of the company’s directors, marking a new chapter in the leadership team. This transition comes as HPCL strengthens its financial strategies and growth objectives in India’s ever-evolving energy sector.
In recent business developments, HPCL reported a remarkable surge in profits. The company’s standalone net profit saw an extraordinary 471.4% jump, reaching Rs 3,022.90 crore in Q3 FY25, compared to Rs 529.02 crore in the same period of FY24. Despite this impressive profit growth, HPCL’s net sales (excluding excise duty) saw a slight dip, falling 0.8% year-on-year (YoY) to Rs 109,979.59 crore for the December 2024 quarter.
HPCL continues to be a key player in the Indian energy sector, focusing on refining crude oil and marketing petroleum products. The company operates through two primary segments: downstream operations and the exploration and production of hydrocarbons, reflecting its dual role in both the energy production and distribution space.
As HPCL moves forward under Narang’s leadership, all eyes will be on the company’s financial resilience and ability to navigate the challenges within India’s dynamic and competitive energy market. The appointment of Narang signals a continued commitment to strategic financial growth as HPCL positions itself for further success.
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