HPCL Q1 Results: Co back in black as petrol, diesel price freeze helps regain mkt margin

Hindustan Petroleum Corporation Ltd (HPCL) on Wednesday reported swinging back to profit in the June quarter as the freeze on petrol and diesel prices revised helped the marketing margin turn positive. Net profit of Rs 6,203.90 crore in April-June (the first quarter of current fiscal 2023-24) compared with Rs 10,196.94 crore of loss in the same period a year back, according to a company’s stock exchange filing.

The profit was over 92% higher than Rs 3,222.62 crore net profit in the preceding quarter.