Hindustan Petroleum Corporation (HPCL) is back in the black with a robust Rs. 6,765-crore net profit during the first quarter (April-June) of FY24.
The public sector oil marketing company (OMC) had registered a loss of Rs. 8,557.1 crore in the same quarter a year ago.
On a sequential basis, net profit shot up 87 per cent from Rs. 3,608.3 crore in Q4FY23. The sharp sequential improvement in earnings is driven by further recovery in auto-fuel marketing margins and lower crude costs.
