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HPCL net profit down 22% to Rs 762 crore
Hindustan Petroleum (HPCL), the country’s third largest fuel retailer, today posted a 22 per cent decline in consolidated net profit to Rs 762 crore for the second quarter ended September 2019 (Q2), as compared to the corresponding quarter a year ago.
The company had posted a net profit of Rs 979 crore in the corresponding quarter a year ago.
The company’s revenue from gross sale of products during Q2 of the financial year 2019-20 (FY20) declined 9 per cent to Rs 66,253 crore.
The company’s gross refinery margins (GRMs) during the first six months of the current financial year declined to $1.87 per barrel, as compared to $5.93 per barrel posted in the corresponding period a year ago.
Crude throughput during Q2 declined to 4.56 million tonne (MT), as compared to 4.76 MT posted in the corresponding period a year ago.
Domestic sales, as well as exports during the quarter, increased to 8.95 MT and 0.45 MT, respectively, as compared to the corresponding quarter a year ago.
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