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Corporate Results - Petroleum


HPCL net down 34% despite higher income

Our Bureau

New Delhi , Oct. 29

HINDUSTAN Petroleum Corporation Ltd has recorded a net profit of Rs 294.31 crore during the second quarter of the current fiscal ended September 30, down 33.6 per cent over Rs 443.84 crore registered during the corresponding period last year.

The drop in profits came even as the total income rose 15 per cent during the period under review.

HPCL's total income in the second quarter this fiscal stood at Rs 13,592.68 crore, up 15 per cent over Rs 11,785.73 crore recorded during the corresponding period last year.

The decline in profits is due to non-revision of retail product prices even as crude prices soared during the second quarter this fiscal.

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