Fuel retailer Hindustan Petroleum Corp ltd (HPCl) on Friday, posted 31 per cent jump in the March quarter net profit on higher refining margins and inventory gains. The State-owned oil firm also announced a bonus issue of one equity share of Rs10 each for every two equity shares held or the ratio of 1:2. In 2016-17, the co had in 2016-17 issued bonus shares in the ratio of 2:1, as per official of the firm. Net profit in the January-March quarter of last fiscal was Rs1,818.79 crore or Rs17.90 per share, which is 31 per cent higher than Rs1,387.91 crore or Rs13.66 a share, in the same quarter of the previous fiscal 2015-16, according to HPCl CMD Mukesh Kumar Surana. “Profit was higher as a result of better operating efficiencies, higher sales and inventory gains,” Surana said.