HPCL falls over 4% after posting net loss of Rs 2,476 crore in Q2

Shares of state-owned natural gas and oil company Hindustan Petroleum NSE -3.53 % (HPCL NSE -3.53 %) fell over 4% to Rs 202 in Friday’s intraday trade as the company reported a second straight quarterly loss.

HPCL registered a net loss of Rs 2,475.69 crore in the July-September quarter of FY23 while it had posted a Rs 1,918.89 crore net profit in the same period last year. In the previous quarter, the company had posted a loss of Rs 8,557 crore.