HPCL returns to profit

Hindustan Petroleum Corp Ltd today reported a net profit of Rs 2,327 crore during the July-September quarter compared to a net loss of Rs 3,364.5 crore during the corresponding period of the previous fiscal year.

State-owned oil retailer Hindustan Petroleum Corp Ltd (HPCL) on Friday reported a net profit of Rs 2,327 crore during the July-September quarter compared to a net loss of Rs 3,364.5 crore during the corresponding period of the previous fiscal year as the refiner" gained from held-up subsidy payments.

HT Image

Net sales increased 30.9% at Rs 48,464 crore during the quarter against Rs 37,030 crore in the same quarter of the previous fiscal year.

Shares of the company fell by Rs 5. 5, or 1.8%, to end at Rs 302 on the Bombay Stock Exchange (BSE)on Friday.