HPCL Q1 results: Net profit down 36% on lower refinery run
New Delhi: Hindustan Petroleum Corporation Ltd on Wednesday reported a 36 per cent drop in its June quarter net profit after one of its two oil refineries took a maintenance shutdown, reducing crude oil processing. Net profit in April-June fell to Rs 1,795 crore from Rs 2,183.83 crore in the same period a year back and Rs 3,017.96 crore in the preceding quarter.
HPCL Chairman and Managing Director Mukesh Kumar Surana said the company’s Mumbai refinery was shut for 45 days in the quarter for completing the expansion of the capacity and unit revamps.
