HPCL back in the black

India’s second largest oil refining and marketing firm, Hindustan Petroleum Corporation Ltd (HPCL), has reported a net profit of Rs 31 crore for the third quarter ended December 31, 2009. The company had a net loss of Rs 422 crore in the same period previous fiscal.

India’s second largest oil refining and marketing firm, Hindustan Petroleum Corporation Ltd (HPCL), has reported a net profit of Rs 31 crore for the third quarter ended December 31, 2009. The company had a net loss of Rs 422 crore in the same period previous fiscal.

HT Image

Total income fell to Rs 28,099 crore for the October-December quarter, from Rs 29,541 crore in the same period last fiscal.

“The refinery margins were low but overall the performance of our refineries was quiet good,”Arun Balakrishnan, chairman and managing director, HPCL told Hindustan Times after the company's board met on Wednesday evening.