HPCL posts net loss of Rs 2,475 crore in Q2 on fuel price freeze

NEW DELHI: Hindustan Petroleum Corporation Ltd. On Thursday posted a net loss of Rs 2,475 crore in the July-September period, marking the second straight quarterly loss as the state-run fuel retailer did not revise retail prices in line with crude’s ascent.

The loss in the September quarter stands out against a profit of Rs 1,919 crore in the year-ago period. The company had posted a loss of Rs 8,557 crore in the April-June period.