Hindustan Petroleum Corporation Ltd has posted a 130.80 per cent jump in its net profit at Rs 775.71 crore (Rs 7.76 billion) for the third quarter ended December 31, 2003 as compared to Rs 330.62 crore (Rs 3.31 billion) in the same period last fiscal.

Net sales were up during this period at Rs 14,259.45 crore (Rs 142.59 billion) as against Rs 14,219.89 crore (Rs 142.20 billion) in Q3 of 2002-03, the company said in a release in Mumbai on Friday.

The oil major said subsidy on liquefied petroleum gas (domestic) and superior kerosene oil (public distribution sysytem) received and the discount on crude oil an SKO/LPG received from Oil and Natural Gas Corp and Gas Authority of India have been accounted as per the schemes approved by the government, the release said.

The gross refining margin during the nine month period were up at $3.6 per barrel for Mumbai refinery ($2.1 per barrel for April-December 2002) and $3.5 per barrel for Visakha refinery ($3.4 per barrel for nine months last fiscal), the company said.

Crude throughput for the third quarter ended December 31, 2003 was slightly higher at 3.3 metric million tones as against 3.08 MMT the previous fiscal.

Market sales, including exports, also grew to 5.16 MMT during this period as against 4.76 MMT in Q3 last fiscal, it said.