HPCL back in black with Rs 5,827 crore net
NEW DELHI: State-owned Hindustan Petroleum Corporation (HPCL) on Monday reported returning to profitability in the September quarter after a boost in marketing margin improved earnings.
It logged a consolidated net profit of Rs 5,827 crorein the September quarter. In the year-ago period, the company had reported a loss of Rs 2,476 crore, it said in a stock exchange filing.
The profit was aided by a boost in marketing margins as a freeze on petrol and diesel price revision despite a fall in input crude oil prices helped recover losses incurred when rates were high last year.
